Critics Say Fremont Creditors’ Plan Lacks Key Info

Law360, New York (September 9, 2009, 2:35 PM EDT) -- Having earned a shot to file their own disclosure statement, the creditors in the Fremont General Corp. Chapter 11 case have run into opposition from equity noteholders who say the outline provided by the creditors is inadequate.

On Tuesday, the official committee of equity noteholders objected to the disclosure statement put forth by the creditors, accusing the group of being too vague regarding a host of questions, including what business operations of the reorganized debtor will remain in operation.

The noteholders also blasted the creditors for...
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