Restaurants Unlimited’s Amended Bankruptcy Disclosures Approved

Bankrupt Restaurants Unlimited Inc. won court approval of its amended disclosures, anticipating unsecured creditors would receive no recovery.

The disclosure statement, approved Wednesday by Judge John T. Dorsey of the U.S. Bankruptcy Court for the District of Delaware, said unsecured claims should be allowed at $21.2 million, not the $35.3 million that were filed against the restaurant operator. But unsecured creditors aren’t expected to receive anything for their claims, the company said.

Dorsey’s approval paves the way for RUI to seek confirmation of its amended Chapter 11 liquidation plan at a hearing scheduled for Feb. 25.

The amendments filled in ...