Journal Register Ch. 11 Plan Wins Approval

By Tina Peng

Law360, New York (July 08, 2009, 12:00 AM ET) -- The bankruptcy court overseeing the Journal Register Co.'s Chapter 11 proceedings has confirmed the media company's amended restructuring plan, overruling objections from unsecured creditors and minority shareholders that the plan disfavors certain creditors and provides for unnecessary executive bonuses.

Judge Allan Gropper of the U.S. Bankruptcy Court for the Southern District of New York on Tuesday ruled that the plan is feasible and satisfies the provisions of the Bankruptcy Code.

Under the amended plan, filed May 6, general unsecured creditors will recover approximately 9 cents on...
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