Judge Greenlights Jackson Hewitt Ch. 11 Plan

Law360, Wilmington (August 8, 2011, 2:20 PM EDT) -- A Delaware bankruptcy judge gave her blessing to Jackson Hewitt Tax Service Inc.'s chapter 11 plan on Monday, which will restructure $357 million in debt and leave the nation's second-largest tax preparer under the control of secured lenders.

U.S. Bankruptcy Judge Mary F. Walrath said at a hearing that she would sign off on the plan once it was submitted with certain changes resolving several lingering objections.

Under the plan, secured lenders — including Bayside Capital Inc. and Republic Bank & Trust Co. — will swap...
To view the full article, register now.