Young Broadcasting Ch. 11 Plan Confirmed

Law360, New York (May 10, 2010, 6:25 PM EDT) -- A judge has confirmed a corporate restructuring plan proposed by bankrupt media giant Young Broadcasting Inc., placing the company on the path out of Chapter 11 despite pleas from creditors to hold off.

Bankruptcy Judge Arthur J. Gonzalez issued a 20-page order Monday in the U.S. Bankruptcy Court for the Southern District of New York, giving his OK to a plan to convert about $342 million in senior secured debt into $200 million in equity and notes to be held by Wachovia Bank NA senior lenders....
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