Momentive Performance Materials Inc. will likely revise its restructuring plan outline after a federal bankruptcy watchdog called it "woefully inadequate,” Dow Jones Daily Bankruptcy Review reported today. According to court papers filed by the watchdog, U.S. Trustee William K. Harrington, Momentive's current disclosure statement omits crucial information that creditors need to cast informed votes on the company's restructuring plan. Harrington said that the company's bankruptcy lawyers have told him they'll file a revised disclosure statement that addresses his concerns, but he still took the defensive step of filing an objection Thursday should those revisions not be sufficient.
