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Re: Pitt77 post# 24076

Saturday, 11/27/2010 10:27:05 AM

Saturday, November 27, 2010 10:27:05 AM

Post# of 24889

NOT THAT IT MATTERS ANYMORE.....

'The Debtors revised the financial projections prior to the voting and objection deadline without disclosing such revisions to the Court, shareholders, creditors, or other parties in interest before the expiration of the deadlines. This was a material omission. See In re Brotby, 303 B.R. 177, 194 (B.A.P. 9th Cir. 2003) (“A debtor’s projected future income is relevant both when a disclosure statement is approved and at confirmation.”); see also In re Oxford Homes, Inc., 204 B.R. 264, 269 n. 17 (Bankr. D. Me. 1997) (disclosure statement should include “financial information, valuations or pro forma projections.”). Because the Disclosure Statement did not contain the revised projections and the Debtors still have not publicly disclosed the revised projections or an updated valuation based on such projections, the Disclosure Statement did not provide “adequate information” within the meaning of section 1125 of the Bankruptcy Code.'


I don't have faith in the Justice System!

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