Judge Gives Bally Permission To Plow Ahead

Law360, New York (August 22, 2007, 12:00 AM EDT) -- In a boost for Bally Total Fitness Holding Corp., a federal bankruptcy judge has given the fitness giant the green light to revamp its prepackaged restructuring plan in light of a new financing proposal put forth by hedge fund Harbinger Capital Partners.

U.S. Bankruptcy Judge Burton Lifland endorsed the move on Tuesday, ruling that Bally did not need to go back and resolicit votes from its creditors in order to submit the altered, Harbinger-backed plan for approval.

"Finding that the Modified Plan is deemed accepted by...
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