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Downtown Turf War, Chapter 3

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Meruelo Maddux retracted that press release attacking its creditors it sent out last week (here's the cached version, asking journalists to ignore the developer's release). Bloomberg reports that Meruelo Maddox will issue another statement, one approved by the court. At issue is whether the release from the developer--which is facing an aggressive legal assault from creditors that want to take over the company and remove its founders--was paramount to an "improper and inaccurate solicitation' of votes on before a disclosure statement is approved." The vote on Meruelo Maddux's reorganization plan should come next year. [Bloomberg; 5th story down]