Broadcaster's Ch. 11 Plan Gets Go-Ahead Despite Objection

Law360, New York (February 23, 2012, 7:18 PM EST) -- A Delaware bankruptcy judge on Thursday confirmed the Chapter 11 reorganization plan for radio station operator Peak Broadcasting LLC, despite major lender Rabobank International's objection that votes for the plan weren't made in good faith.

U.S. Bankruptcy Judge Mary F. Walrath signed off on the prepackaged plan, which had been approved by all non-Rabobank creditors. The ruling paves the way for Peak to emerge from Chapter 11 protection.

"We now have the right capital structure on which to grow our business and support the communities in...
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