Anvil Knitwear Scores Confirmation Of Exit Plan

Law360, New York (January 11, 2007, 12:00 AM EST) -- New York-based apparel maker Anvil Knitwear Inc. has won court confirmation of its exit plan, setting the company on course to emerge from bankruptcy protection after filing three months ago.

On Wednesday, Judge Allan L. Gropper of the U.S. Bankruptcy Court for the Southern District of New York greenlighted Anvil’s plan, which outlines slashing about $200 million in debt and preferred stock by issuing new equity and warrants.

Although the reorganization plan raised objections from creditors Indemnity Insurance Co. of North America and Crowley Liner Services...
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