Delta Financial Disclosure Statement Gets Judge's OK

Law360, New York (October 23, 2008, 12:00 AM EDT) -- A bankruptcy judge has approved the Chapter 11 disclosure statement of Delta Financial Corp., giving the green light for unsecured creditors to vote on whether the beleaguered mortgage lender and its subsidiaries should be consolidated for liquidation purposes.

On Wednesday, Judge Christopher S. Sontchi of the U.S. Bankruptcy Court for the District of Delaware signed off on Delta Financial's amended disclosure statement, ruling that it provided adequate information to enable members of the voting classes of creditors to evaluate and decide on the proposed reorganization plan....
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