PCAA Ch. 11 Plan Gets Green Light

Law360, New York (May 18, 2010, 3:13 PM EDT) -- A bankruptcy judge has approved PCAA Parent LLC's reorganization plan, clearing the way for the parking company to sell off most of its assets and distribute the proceeds through a liquidating trust.

Judge Mary F. Walrath confirmed the Macquarie Infrastructure Co. Inc. unit's first amended joint Chapter 11 plan in the U.S. Bankruptcy Court for the District of Delaware on Monday, writing that the plan “was proposed with the legitimate and honest purpose of maximizing the value of PCAA's estates.”

Under PCAA's amended plan, filed April...
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