(Dec. 1)  As provided by the Bankruptcy Code, the Bankruptcy Court has approved the Disclosure Statement, finding that it adequately explained the Debtor's plan which parties to the bankruptcy have been asked to consider as a means to wind-up these bankruptcy cases.  Recently, the Debtors and the four Committees have become aware of various emails and other communications from certain Direct Lenders and investors criticizing both the Plan and the attorneys and other professionals who are involved in the bankruptcy cases, and recommending the plan be rejected.  These communications have not been submitted to, let alone approved by, Judge Riegle, and they contain numerous incorrect and misleading statements of fact and assumptions of applicable law.  More importantly, they do not suggest a viable alternative to the Plan.

 

While the Bankruptcy Court has ruled that the Disclosure Statement contains adequate information, and while the Committees believe that the Disclosure Statement provides answers to the unsubstantiated, misleading and incorrect statements in the Unauthorized Solicitations, the Committees believe parties to the bankruptcy will be assisted in making their decisions regarding the Plan by considering the following short response to points raised in the Unauthorized Solicititations.  These points are contained in the following document, click below:

 

USA Capital - Las Vegas · 4484 South Pecos Road · Las Vegas, NV 89121
NV MBR 333 · Phone 702.734.2400 · Fax 702.734.0163