US trustee objects to amended disclosure statement in Genesis bankruptcy

A trustee for the US government filed an objection to an amended disclosure statement in the Genesis bankruptcy.

William Harrington, the US trustee who works for the Department of Justice, claimed that the new disclosure statement “materially changes the terms of the plan previously filed by the Debtors.”

The disclosure was filed as part of the joint plan on Oct. 24.

Harrington claimed that the biggest change comes in the form of the sale plan, stating that “most obviously, the discharge language has been removed and the Debtors have announced that they are no longer seeking a sale of their assets.”

The trustee alleges that the amended disclosure statement is now a new statement…

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