Thompson Looks To Sell Assets As It Enters Bankruptcy

Law360, New York (September 23, 2010, 7:25 PM EDT) -- Thompson Publishing Group Inc. proposed a $42 million sale of its assets to a stalking horse bidder comprising first-lien lenders Thursday, setting an initial course out of bankruptcy for the overleveraged business-to-business publisher.

Thompson’s inability to service $165 million in secured debt prompted the company's Sept. 21 bankruptcy filing, the debtors said in a hearing before Judge Peter J. Walsh in the U.S. Bankruptcy Court for the District of Delaware.

“Given the debtor's need to reduce their debt load and interest expense, their increasing concerns about...
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