Restaurants Unlimited's Ch. 11 Plan Disclosure Gets Approval

By Vince Sullivan (January 15, 2020, 8:40 PM EST) -- Casual eatery operator Restaurants Unlimited Inc.'s Chapter 11 plan disclosure statement received court approval Wednesday in Delaware without objection, with an attorney for the debtor saying it provides enough information for affected creditors to vote on the plan.

During a brief hearing in Wilmington, debtor attorney Domenic E. Pacitti of Klehr Harrison Harvey Branzburg LLP said updated versions of the disclosure statement were filed Wednesday morning that added specific information about claims estimates and projected recoveries for creditor classes, which weren't available when RUI filed the original version because the claim bar date hadn't yet passed.

"We believe the disclosure statement as drafted...

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