Meruelo Maddux Ordered To Retract Creditor Bashing

Law360, New York (September 24, 2010, 5:32 PM EDT) -- A bankruptcy judge has ordered a California real estate company to retract a press release that attacked a competing plan for the company’s emergence from Chapter 11, saying the press release was not only improper but contained “substantial inaccuracies.”

The Sept. 9 release, posted by Meruelo Maddux Properties Inc. on the PR Newswire website, likened a reorganization plan submitted by two of its major creditors, Legendary Investors Group No. 1 LLC and East West Bank, to a “hostile takeover” in the guise of a court filing....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.