Reader's Digest's New Disclosure Statement OK'd

Law360, New York (December 1, 2009, 4:55 PM EST) -- A bankruptcy judge has given the green light to The Reader's Digest Association Inc.'s latest disclosure statement, clearing the way for a confirmation of the publisher's most recent Chapter 11 plan in January.

The disclosure statement faced no further objections after being amended to the court's specifications and contains all the material information claim holders need to vote on the plan, Judge Robert D. Drain of the U.S. Bankruptcy Court for the Southern District of New York said Monday.

The deadline for objections has been set...
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