Perkins Boosts Unsecured Creditor Payout Pool To $7M

Law360, Wilmington (September 8, 2011, 7:17 PM EDT) -- Perkins & Marie Callender's Inc. told a Delaware bankruptcy judge on Thursday that it had increased a cash pool available to junior creditors to $7 million, as the troubled restaurant chain prepares to submit its reorganization plan to a creditor vote.

With the added cash — up from $1.5 million under Perkins’ original plan — the official committee of unsecured creditors will now recommend that its constituents vote in favor of the plan, committee attorney Mark R. Somerstein of Ropes & Gray LLP said at the...
To view the full article, register now.