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Judge OKs Nellson's Disclosure Statement

Law360 (July 29, 2008, 12:00 AM EDT) -- A federal judge on Friday approved the disclosure statement for Nellson Nutraceutical Inc.’s reorganization, clearing the way for creditors to vote on the diet bar maker's liquidation plan.

Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware green-lighted the plan, which would put the proceeds from the company’s remaining assets toward the $255 million it owes first-lien lenders.

Judge Sontchi gave creditors until Sept. 3 to file objections to the plan, and scheduled the liquidation plan’s confirmation hearing for Sept. 10,...
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