Creditors Rail Against AmFin Disclosure Statement

Law360, Wilmington (June 6, 2011, 7:29 PM EDT) -- AmFin Financial Corp. met stiff resistance Friday in Ohio bankruptcy court to the disclosure statement explaining its reorganization plan, with unsecured creditors and junior bondholders pointing to gaps in the document that they claim could lead voting creditors astray.

The official committee of unsecured creditors objected to the disclosure statement on the basis that it fails to provide adequate information regarding various settlements with creditor groups incorporated in the plan. In particular, the committee seeks information on what concessions were made by senior noteholders in return...
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