HSBC Takes Aim At Bally's Disclosure Statement

Law360, New York (July 7, 2009, 12:00 AM EDT) -- HSBC Bank USA has launched a “protective objection” to Bally Total Fitness Holding Corp.'s recently filed disclosure statement and plan, arguing that they should not be approved by the bankruptcy court without the inclusion of more specific information regarding HSBC’s fees and expenses as indenture trustee.

HSBC, which serves as indenture trustee for approximately $231.3 million in senior subordinated notes due in 2013, filed the limited objection Monday in the U.S. Bankruptcy Court for the Southern District of New York.

According to the objection, since Bally...
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