Ok, if one wants to view it as "this" disclosure statement needs additional items before it'd be approved -- then, yes, this DS was denied and there will be changes made.
OTOH, I think I heard a semantic thingy -- that there wasn't going to be 'changes' to the Disclosure Statement -- just the additional valuation information added.
In other words, the Disclosure Statement -- as it "discloses" - what is in the POR - isn't rejected. Just that there needs to be "more" disclosures, specifically on valuation topics, added.
So, pick your poision and spin. Brian will claim the DS was approved. Others will claim it was kicked out. The answer is in the middle. IMHO.
We should be getting some additional NOL valuations, real estate values of non-debtor subs {NO, I do not think this means Second and Union}, and a Chapter 7 valuation based on FJR, etc.