A.H. Robins Co.’s bankruptcy proceeding is facing...
A.H. Robins Co.’s bankruptcy proceeding is facing another hurdle, with more than 200 parties suggesting changes in the troubled drug maker’s financial statement filed as part of its Chapter 11 case. A hearing on the document, called a disclosure statement, is scheduled to begin in federal court in Richmond, Va., today. A disclosure statement gives financial information about a debtor, while the reorganization plan sets out how a company will repay creditors. Objections to the disclosure statement are primarily aimed at its wording. However, the disclosure statement is closely tied to the reorganization plan.
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