Hoop's disclosure statement free of objections, hearing cancelled

By Jennifer Lanning Drey

Portland, Ore., Nov. 4 - Hoop Holdings, LLC's hearing on the disclosure statement for its plan of reorganization was cancelled and a certificate of no objection was filed, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

An order approving the disclosure statement and scheduling the plan confirmation hearing is expected this week, according to a source familiar with the case.

The disclosure hearing was originally scheduled for Nov. 4.

As previously reported, Hoop's plan of reorganization provides for the estate assets of Hoop Holdings, its wholly owned retail subsidiary, and Canada Holdings to be placed in a liquidating trust, which will be overseen by a liquidating trustee.

Hoop, a Secaucus, N.J., company that designs, contracts to manufacture and sells merchandise under the Disney Store brand name, filed for bankruptcy on March 26, 2008. Hoop's Chapter 11 case number is 08-10544.

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