Young Broadcasting Creditors Fight Plan Confirmation

Law360, New York (May 6, 2010, 1:12 PM EDT) -- Citing improvements to the economy, Young Broadcasting Inc.'s creditors have asked a bankruptcy court to hold off on confirming a restructuring plan put forth by the company's senior lenders that a judge has already approved.

Market conditions have improved since the confirmation hearing, creating new potential for a successful sale or refinancing of the company, according to a motion the official committee of unsecured creditors filed Wednesday in the U.S. Bankruptcy Court for the Southern District of New York.

Both the creditors' plan and the lender-backed...
To view the full article, register now.