Judge Approves Cadence Disclosure Statement

Law360, New York (June 29, 2011, 6:38 PM EDT) -- A Delaware bankruptcy judge on Wednesday signed off on Cadence Innovation LLC's disclosure statement, which outlines a liquidation plan anchored by an approximately $30 million settlement by the auto-parts maker with two private equity funds.

U.S. Bankruptcy Judge Kevin Gross noted that all objections to the plan had either been settled, withdrawn or rendered moot in approving the disclosure statement, and set an Aug. 17 confirmation hearing for the liquidation plan.

Venture Blocker Inc. and units of the Yucaipa Cos. LLC had made claims totaling approximately...
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