Southern Air Ch. 11 Disclosure Statement Cleared For Voting

Law360, Wilmington (December 18, 2012, 4:18 PM EST) -- A Delaware bankruptcy judge on Tuesday approved the Chapter 11 disclosure statement of Southern Air Holdings Inc. after the cargo carrier smoothed out issues with objecting parties who claimed that the document revealed too little about the company's proposed reorganization.

The Connecticut-based carrier's disclosure statement had elicited protests from the federal government, the U.S. trustee, the recently formed committee of unsecured creditors and the Los Angeles County treasurer, according to debtors' attorney Brian S. Rosen of Weil Gotshal & Manges LLP, who told the court, “I'm...
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