Uno Ch. 11 Plan Gives 100% Equity To Senior Lenders

Law360, New York (March 16, 2010, 6:07 PM EDT) -- Casual dining chain Uno Restaurant Holdings Corp. has proposed exiting Chapter 11 protection by transferring 100 percent of its equity to its senior secured noteholders.

Uno's senior secured noteholders will convert their debt for equity, the parent company of the pizza chain said in a disclosure statement filed Monday in the U.S. Bankruptcy Court for the Southern District of New York.

General unsecured creditors, however, will receive nothing from Uno under the proposed plan.

In a settlement that resolved a fight over debtor-in-possession financing, among other...
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