Reader's Digest Taps Kirkland As Ch. 11 Counsel

Law360, New York (August 31, 2009, 5:07 PM EDT) -- The Reader's Digest Association Inc., the bankrupt publisher of the world's highest-circulation magazine, has moved to retain Kirkland & Ellis LLP as counsel as it looks to implement a prearranged restructuring deal that would slice its $2.2 billion debt to $550 million.

Citing Kirkland's expertise and experience in business reorganizations, Reader's Digest filed a motion Friday in the U.S. Bankruptcy Court for the Southern District of New York seeking court approval to employ the firm.

“Kirkland has been involved in many major Chapter 11 reorganizations —...
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