True Religion's Ch. 11 Plan Docs Approved Without Objection

Law360 (July 27, 2020, 4:50 PM EDT) -- Premium denim retailer True Religion Apparel received approval Monday from a Delaware bankruptcy judge for its Chapter 11 disclosure statement detailing a proposed debt-for-equity swap that will wipe out $65 million of prepetition indebtedness.

During a hearing conducted virtually, debtor attorney J. Kate Stickles of Cole Schotz PC said the disclosure statement was being presented without objection or opposition following productive discussions with the Office of the U.S. Trustee, the official committee of unsecured creditors and various lender groups. Each party had filed informal comments in response to the document, and Stickles said updated versions of the plan and disclosure statement...

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