Kara's Disclosure Statement Faces Objections

Law360, New York (July 16, 2007, 12:00 AM EDT) -- Kara Homes Inc. is facing a slew of objections to its amended disclosure statement, as the bankrupt homebuilder heads towards an approval hearing on Thursday.

At least seven objections have been filed in the U.S. Bankruptcy Court for the District of New Jersey since Friday, challenging the developer’s amended disclosure statement and Chapter 11 plan, filed on June 27. The objecting parties include a Kara employee, a New Jersey township and a utility.

The objectors are all Kara creditors who claim that the proposed disclosure statement...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.