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Recently, the Delaware bankruptcy court has seen what critics say were overly broad bids to seal information — typically either salaries for executives or information about employees — in several large cases.  Houston Principal Hugh Ray told Law360 that requests to seal often come from a company wanting as little publicity as possible about financial plight, and success in that endeavor can vary from venue to venue.  Mr. Ray also said that Before the U.S. Bankruptcy Reform Act of 1978, strict standards for proving certain situations were virtually nonexistent, often with whatever said by the party with the most leverage taken as fact and the case sometimes run by banking lawyers instead of bankruptcy specialists.

The full article can be found here.

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