LID Disclosure Statement Wins Court Approval

Law360, New York (October 13, 2008, 12:00 AM EDT) -- Diamond supplier L.I.D. Ltd. has a green light to solicit votes on its liquidation plan, after the court overseeing the company's Chapter 11 proceedings gave its blessing to L.I.D.'s amended disclosure statement and set a November 6 confirmation hearing.

Judge James Peck of the U.S. Bankruptcy Court for the Southern District of New York signed off on an order on Friday approving the disclosure statement associated with the amended liquidation plan dated Sept. 16.

The amended plan provides for the liquidation of the debtor's remaining assets...
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