Judge OKs Fairfield Residential Disclosure Statement

Law360, New York (March 10, 2010, 1:15 PM EST) -- A bankruptcy judge has signed off on Fairfield Residential LLC's disclosure statement, bringing the bankrupt real estate developer one step closer to exiting court protection.

In a concurrent order Tuesday, Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware approved Fairfield's voting procedures and set a confirmation hearing for April 22. The deadline for objections to the company's restructuring plan is April 16.

The approval came after Fairfield asked for a delay in consideration of the disclosure statement so it could...
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