Information memorandum disclosure requires comprehensive corporate debtor data, creditor-supplied financial information, and confidentiality safeguards for resolution planning. The resolution professional must submit an electronic information memorandum and subsequent updates to each committee member by the prescribed deadline. ... Summary
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Information memorandum disclosure requires comprehensive corporate debtor data, creditor-supplied financial information, and confidentiality safeguards for resolution planning.
The resolution professional must submit an electronic information memorandum and subsequent updates to each committee member by the prescribed deadline. It must contain comprehensive information on the corporate debtor, including assets, liabilities, financial statements, creditor claims, related-party dealings, guarantees, litigation, avoidance transactions, employee liabilities and going-concern value factors. Real estate debtors require project-wise disclosures on construction, approvals, encumbrances, regulatory status, allottee claims and relief preferences. Disclosure is subject to a confidentiality undertaking, while creditors must provide available financial information and committee members may request further relevant information.
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