C-Bass Disclosure Statement Wins Court Approval

Law360, New York (March 4, 2011, 7:00 PM EST) -- Bankrupt subprime mortgage investor Credit-Based Asset Servicing and Securitization LLC won approval for a disclosure statement to the company's liquidation plan from a New York bankruptcy court Friday on the heels of receiving a blessing from unsecured creditors.

Judge Allan L. Gropper approved the disclosures at a hearing in the U.S. Bankruptcy Court for the Southern District of New York, allowing the debtor to begin soliciting creditor votes on its plan. A hearing on confirmation was scheduled for April 11.

C-Bass attorney Peter S. Partee Sr....
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