Houghton Mifflin Opens Page To Ch. 11

Law360, New York (May 21, 2012, 2:32 PM EDT) -- Boston-based textbook publisher Houghton Mifflin Harcourt Publishing Co. and 23 affiliates filed for Chapter 11 protection with a prepackaged plan in a New York bankruptcy court Monday, in a move designed to slash $3.1 billion in debt.

The company, which listed more than $1 billion in both assets and liabilities in its Chapter 11 petition, said Friday that it had reached a deal with more than 70 percent of its senior secured lenders and bondholders on the restructuring plan, which will convert the company’s long-term debt...
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