Judge OKs Vertrue's Ch. 11 Plan Disclosure Statement

Law360, New York (November 27, 2012, 7:52 PM EST) -- A New York bankruptcy judge on Tuesday approved private equity-held direct marketer Vertrue LLC's disclosure statement for its Chapter 11 plan, under which holders of general unsecured claims can hope to recover no more than 1 percent of their claims.

U.S. Bankruptcy Judge Martin Glenn signed off on the disclosure statement for the plan, which the debtor said was the product of negotiations among it and its subsidiaries, the first-lien agent and certain first-lien lenders.

"The debtors believe that the terms of the plan are fair...
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