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Northwest Spat Highlights Disclosure Struggle

Law360 (May 23, 2007, 12:00 AM EDT) -- As the bankruptcy world waits to see whether the controversial Northwest disclosure order is overturned, the tension between the investment community and the other Chapter 11 players over Rule 2019 continues to build.

The rule, a longstanding provision of the Bankruptcy Code, has become the subject of widespread debate after U.S. Bankruptcy Judge Allan Gropper required the ad hoc committee of equity holders in Northwest's bankruptcy case to disclose its holdings in March.

Judge Gropper imposed Rule 2019, which requires members of an equity committee to...
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