Reddy Ice To Hand Stake To Centerbridge In Ch. 11

Law360, New York (April 9, 2012, 4:30 PM EDT) -- Leading packaged-ice company Reddy Ice Holdings Inc. reportedly expects to file for Chapter 11 protection as early as this week as part of a plan to unload $450 million in debt by transferring an ownership stake to Centerbridge Partners LP.

The Dallas-based ice manufacturer could seek Chapter 11 protection as soon as this week, initiating the approval process for its plan to hand over the company to the New York hedge fund that owns a portion of Reddy Ice's debt, The Wall Street Journal reported Monday....
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