Fremont Creditors Shun Tardy Disclosure Qualms

Law360, New York (October 12, 2009, 6:51 PM EDT) -- Fending off a late burst of objections from equity holders and banks, creditors of Fremont General Corp. contend that the disclosure statement for their Chapter 11 plan is replete with detail and worthy of the bankruptcy court’s approval.

On Friday, the bankrupt mortgage lender’s official committee of unsecured creditors urged Judge Erithe A. Smith of the U.S. Bankruptcy Court for the Central District of California to overrule the recent outburst, discounting the objections as untimely and without merit.

After a hearing for the disclosure statement last...
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