Law360, New York ( August 7, 2013, 6:08 PM EDT) -- In order for creditors and interest holders to make an informed judgment regarding a proposed Chapter 11 plan, the Bankruptcy Code requires that a disclosure statement be filed, approved and disseminated to stakeholders prior to the stakeholders voting to accept or reject the plan. The disclosure statement is necessary to provide parties with context for the Chapter 11 plan, to help stakeholders understand their projected recoveries under the plan, and to assist the stakeholders in evaluating whether the plan is appropriate under the circumstances....
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