Generation Brands Reorganization Plan Confirmed

Law360, New York (January 15, 2010, 4:58 PM EST) -- A bankruptcy court on Friday confirmed lighting fixture and ceiling fan maker Generation Brands' reorganization plan to cut $150 million of the company's debt.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware confirmed the plan following a hearing Friday.

The plan eliminates more than $150 million of debt from Generation Brands' balance sheet, reduces interest expenses and extends maturities until 2014, the company said.

Judge Walsh's order confirming the plan notes that only two objections were filed, one by the...
To view the full article, register now.