Court Approves Tower Records' Liquidation Plan

Law360, New York (June 12, 2007, 12:00 AM EDT) -- Bankrupt music retailer Tower Records received court approval on Monday of the third draft of its Chapter 11 liquidation plan, which has drawn fire from creditors since it was first filed in March.

The court order approving the plan allows for objections from interested parties to be filed through July 25. A confirmation hearing on the plan is scheduled to begin on July 31.

Counsel for Tower and the creditors committees could not be immediately reached for comment on Tuesday.

Tower first filed its plan on...
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