Deal With Noteholders Puts A&P Closer To Ch. 11 Exit

Law360, New York (December 19, 2011, 8:23 PM EST) -- A New York bankruptcy judge signed off Monday on a deal between the Great Atlantic & Pacific Tea Co. and holders of a large majority of the company's second-lien notes, sweeping away another hurdle from its path out of Chapter 11 protection.

U.S. Bankruptcy Judge Robert D. Drain approved the settlement, which calls for holders of about $204 million of A&P's second-lien notes – or 79 percent of them – to support the company's reorganization plan in court after A&P agreed to pay their allowed claims...
To view the full article, register now.