Opinion
Jointly Administered at Case No. 302-00979
February 7, 2003
William L. Norton, III; BOULT, CUMMINGS, CONNERS BERRY, PLC Nashville, TN., Attorneys for Lender Group
ORDER CONTINUING HEARING ON DISCLOSURE STATEMENTS
This is before the Court to consider the disclosure statements regarding the Joint Plan filed by the Debtor and the Unsecured Creditors' Committee (the "Committee") and the Joint Plan of the Ableco Finance LLC, Foothill Capital Corp. and Regiment Capital II, LP (the "Lender Group") and was set for hearing on February 4, 2003. It appearing to the satisfaction of the Court upon the statements of counsel for the Lender Group that the Lender Group has substantially modified its plan from a liquidation plan to a plan of reorganization and that additional time is needed for the parties to consider both the Lender Group's revisions to its disclosure statement and the modifications made to the Debtor/Committee disclosure statement, and it further appearing from the statements of counsel for the parties who filed objections to the Lender Group plan, including the Debtor, the Committee, Travelers Insurance Co. and the U.S. Trustee, that those parties agree to continue this disclosure statement hearing for one week, it is
ORDERED that the hearing to consider approval of both of the disclosure statements is hereby continued until February 11, 2003 at 1:30 p.m., Courtroom Two, Customs House, 701 Broadway, Nashville, Tennessee 37203. The Lender Group shall provide drafts of its revised Disclosure Statement to the objecting parties by Monday morning, February 10, 2003 and the parties who previously filed objections to the Lender Group Disclosure Statement shall communicate any new objections to the revised Lender Group Disclosure Statement as soon as possible thereafter.