Buffets' New Statement Approved With Exit Financing

Law360, New York (March 13, 2009, 12:00 AM EDT) -- The bankruptcy judge overseeing the Chapter 11 proceedings of Buffets Holdings Inc. has approved the company’s disclosure statement to its latest reorganization plan, which the restaurant chain had to revise in its struggle to obtain exit financing.

In an order signed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, Judge Mary F. Walrath approved the revised disclosure statement and ordered the debtors to mail the revised statement and third amended reorganization plan to claimholders for voting purposes.

The debtors’ third amended reorganization plan,...
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