Fabrics Estate's Disclosure Statement Approved

Law360, New York (July 16, 2009, 1:31 PM EDT) -- A federal bankruptcy court has approved a disclosure statement filed by Fabrics Estate Inc., formerly known as Propex Inc., bringing the fabric and building materials company one step further to winding down its estate following the April sale of substantially all of its assets to an affiliate of debtor-in-possession lender Wayzata Investment Partners LLC.

In an order signed Wednesday in the U.S. Bankruptcy Court for the Eastern District of Tennessee, Judge John C. Cook granted a motion for approval of the disclosure statement, solicitation package and...
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