Truvo USA Sale Is Key In Amended Ch. 11 Plan

Law360, New York (July 28, 2010, 3:22 PM EDT) -- Bankrupt directory publisher Truvo USA LLC has unveiled its amended plan of reorganization, including a key provision that would sell off the company for €600 million ($748 million) cash to a holding company controlled by creditors.

Truvo and four affiliates filed their amended plan and disclosure statement Monday in the U.S. Bankruptcy Court for the Southern District of New York. They said the cornerstone of the plan was to effectively hand equity in Truvo to senior lenders.

The plan calls for some of Truvo's lenders to...
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