Ampex Statement Approved, Creditors Still Skeptical

Law360, New York (June 12, 2008, 12:00 AM EDT) -- Ampex Corp.'s unsecured creditors committee still harbors doubts about Ampex's plan and may oppose it at a July confirmation hearing.

U.S. Bankruptcy Judge Arthur Gonzalez signed off on an order Wednesday holding that the Ampex's disclosure statement — associated with its third amended reorganization plan — contained adequate information and scheduled a July 31 confirmation hearing.

Ampex agreed to take out some language relating to a liquidation analysis from the disclosure statement, which resolved the committee's objection, but the unsecured creditors still aren't convinced that the...
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