Circuit City, Creditors Agree On Amended Ch. 11 Plan

Law360, New York (August 2, 2010, 3:30 PM EDT) -- Circuit City Stores Inc. and its committee of unsecured creditors have successfully completed mediation over the debtors' plan of reorganization and agreed to modifications to the plan.

In a motion lodged Thursday in the U.S. Bankruptcy Court for the Eastern District of Virginia, the debtors and the committee said they expect to file a revised plan by Aug. 9.

The changes to the plan concern post-petition governance of a liquidating trust, reserves to ensure funds are available for claims allowed after the effective date and efforts...
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