4Kids Plan Confirmed Over License Partner's Objection
By Lisa Uhlman
Law360, New York (December 13, 2012, 12:28 PM ET) -- A New York bankruptcy judge sent 4Kids Entertainment Inc. on its way out of Chapter 11 protection Thursday, overruling an objection by the American Kennel Club Inc. over a licensing agreement and approving its reorganization plan, which calls for the full payment of claims.
U.S. Bankruptcy Judge Shelley C. Chapman confirmed the debtor's Chapter 11 plan following a brief hearing. The plan also calls for the preservation of common stock in the children's entertainment company.
“The plan is confirmed; congratulations,” Judge Chapman said.