Ceres Capital Creditors Object To Prepackaged Plan

Law360, New York (May 20, 2008, 12:00 AM EDT) -- The newly formed unsecured creditors committee in Ceres Capital Partners LLC's bankruptcy case has objected to the company's disclosure statement and prepackaged Chapter 11 plan, asking the court to either delay a confirmation hearing slated for May 22 or refuse to confirm the plan.

The objection, which the official committee of unsecured creditors filed Monday, says the committee was organized only 13 days earlier and retained counsel only 12 days earlier.

Ceres, which specialized in structured investment vehicles, filed its prepackaged plan on April 17 in...
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