Insilco disclosure statement approved

By Jeff Pines

Washington, Feb. 17 - Insilco Technologies, Inc.'s disclosure statement received court approval, according to a Feb. 13 order from the U.S. Bankruptcy Court for the District of Delaware.

The deadline for voting on the liquidation plan is April 19.

A confirmation hearing will be held April 28.

Noteholders are expected to recover 0.5% to 2% of the value of their claim under the plan, according to the Dublin, Ohio, company's disclosure statement. Senior lenders have agreed to a recovery of 25%.

Insilco filed for bankruptcy on Dec. 16, 2002, and the case number is 02-13672.

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