Judge Gives Nod To Bayou Disclosure Statement

Law360, New York (October 29, 2009, 4:13 PM EDT) -- A wary bankruptcy judge on Thursday preliminarily approved a disclosure statement in fraud-ridden hedge fund Bayou Group LLC's Chapter 11 case, going over the 85-page document with a fine-tooth comb and putting off challenges to a contemplated dual trusteeship and to attorneys' fees requests until a confirmation hearing.

Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York gave approval pending several changes to the second amended disclosure statement to be made by lawyers for Bayou trustee Jeff J. Marwil....
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