Coldwater Creek's Disclosure Statement Sent Back To Kitchen
Law360, Wilmington (June 12, 2014, 10:10 PM EDT) -- A Delaware bankruptcy judge declined to approve Coldwater Creek Inc.'s disclosure statement on Thursday, directing the clothing retailer to include additional information in the document and resolve issues with unsecured creditors over the proposed Chapter 11 plan it describes.
At a hearing in Wilmington, Delaware, U.S. Bankruptcy Judge Brendan L. Shannon said he had concerns about the document, noting that it lacked a full discussion of recent amendments to the plan such as substantive consolidation of the various debtors' estates.
“I'm not prepared to approve the disclosure statement,” said Judge Shannon, who instead ordered the parties to return for a June...
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