US Administrator Declares Alpha Latam Ch. 11 Insufficient Disclosure

By Rick Archer (January 24, 2022, 7:31 PM EST) – The U.S. Trustee’s Office on Monday urged a Delaware bankruptcy judge to reject Colombian payday lender Alpha Latam Management’s Chapter 11 plan disclosure, saying it contains an insufficiently explained and overly broad disclaimer.

In an objection to the disclosure of the Alpha Latam plan, the U.S. trustee’s office says the latest version of the plan’s disclosure statement adds a sketchy settlement with an unnamed group of creditors to a plan that would release legal claims. parties who will never receive notice. the scheme exists.

“The plan imposes non-consensual waivers on many non-debtor parties, and a related party clause expands the universe…

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