BofA Slams Meruelo's Latest Plan

Law360, New York (July 9, 2010, 2:59 PM EDT) -- Meruelo Maddux Properties Inc. has come under fire yet again over the latest version of its proposed blueprint for reorganization, with Bank of America NA and other creditors assailing the cash-strapped developer for putting forth a plan they claim suffers from “serious informational defects.”

In a rash of objections filed Thursday in the U.S. Bankruptcy Court for the Central District of California, the creditors said that despite having filed four versions of its disclosure statement, Meruelo continues to include in its plan nondebtor releases and injunctions...
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