Trustee Wants More Info On Reader's Digest Funds

Law360, New York (October 21, 2009, 8:02 PM EDT) -- U.S. Trustee Diana Adams is demanding that The Reader's Digest Association provide more information about funds squirreled away in various domestic and foreign bank accounts amid worries about estate money potentially being kept in institutions that are not authorized depositories.

On Wednesday, Adams filed a limited objection in the U.S. Bankruptcy Court for the Southern District of New York, asking that Reader's Digest's motion to continue with its cash management plan be denied until the debtor complies with the trustee's information requests.

“As of the date...
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