AMS' Ch. 11 Plan Does Not Specify Creditor Recovery

Law360, New York (August 27, 2007, 12:00 AM EDT) -- Liquidated book marketer Advanced Marketing Services Inc. has filed a Chapter 11 reorganization plan and accompanying disclosure statement that does not reveal how much unsecured creditors can expect to recover.

According to court documents filed Friday, AMS and its subsidiaries face about $217 million in unpaid unsecured claims. Though the company has not yet estimated how much of that will be paid off, it did say allowed administrative claims would be paid in full, while the holders of 510(b) claims and the holders of interests in...
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