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Creditor Challenges Loehmann's Ch. 11 Plan

Law360 (January 7, 2011, 6:46 PM EST) -- On the heels of winning court approval for its disclosure statement, discount retailer Loehmann's Holdings Inc. is facing an objection to its Chapter 11 reorganization plan from a priority tax creditor.

The objection, filed Friday in the U.S. Bankruptcy Court for the Southern District of New York by the Texas Comptroller of Public Accounts, said the plan did not contain sufficiently specific information to allow priority tax creditors to determine how their claims will be paid.

For example, though the plan states that regular payment installments...
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