Entertainment Cos. Object To Tower Plan

Law360, New York (April 25, 2007, 12:00 AM EDT) -- A group of film and record companies allegedly owed more than $70 million by Tower Records has called on a bankruptcy court to reject the music retailer’s reorganization plan.

In an objection filed Tuesday with the Delaware bankruptcy court overseeing Tower’s Chapter 11 case, the so-called informal committee of secured trade vendors said the company’s disclosure statement was deficient and its plan “unconfirmable.”

The vendor group, which comprises six companies including Sony BMG Music Distribution, Universal Music Group Distribution Corp., Warner Home Video Inc. and Twentieth...
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