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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.