Twinkie Maker's Disclosure Statement Good To Go

Law360, New York (October 31, 2008, 12:00 AM EDT) -- Interstate Bakeries Corp. has won court approval of its disclosure statement for a reorganization plan that would leave the company's unsecured creditors and stockholders with nothing.

Judge Jerry W. Venters of the U.S. Bankruptcy Court for the Western District of Missouri ruled Thursday that the disclosure statement contained “adequate information regarding the plan,” and approved objection and voting procedures for the company's creditors.

Under IBC's reorganization plan, secured creditors, lease claims and employee compensation will be paid in full, according to the disclosure statement, which was...
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