Jackson Hewitt Creditors Win Time To Probe Ch. 11 Plan

Law360, Wilmington (June 30, 2011, 8:33 PM EDT) -- Unsecured creditors in Jackson Hewitt Tax Service Inc.’s bankruptcy won an extra month Thursday to investigate the company’s prepackaged reorganization plan and secured resources for the effort after a judge refused to place a hard cap on attorneys’ fees.

The company filed for Chapter 11 protection May 24 with a plan in hand to restructure more than $350 million in debt and transfer ownership of the tax preparer to bank lenders, including Bayside Capital Inc. and Republic Bank & Trust Co., all within 60 days. But...
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