Creditors Push For Harry & David Ch. 11 Deal

Law360, New York (August 9, 2011, 12:06 PM EDT) -- Companies holding some $30 million in unsecured trade claims against bankrupt Harry & David Holdings Inc. pushed for confirmation of the company's reorganization plan Tuesday in Delaware after a key ruling erased the holiday gift purveyor's pension liability for 2,700 workers.

The unsecured creditors — mostly holders of trade debt, including billing services provider Convergys CMG, printer R.R. Donnelley & Sons Co., FedEx Corp., Google Inc. and various food suppliers — told U.S. Bankruptcy Judge Mary F. Walrath they could live with a 10 percent cash...
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