Marketing Co. Vertrue Scores OK For Ch. 11 Plan

Law360, New York (January 23, 2013, 6:45 PM EST) -- Private equity-held direct marketer Vertrue LLC and its holding company Velo Holdings LLC got the go-ahead Wednesday to make their way out of bankruptcy less than a year after filing for Chapter 11 protection, with a New York bankruptcy judge approving their reorganization plan.

Though the plan will provide less than 1 percent recovery for unsecured creditors, it was supported overwhelmingly by holders of first-lien and general unsecured claims, according to Vertrue. The plan also secured the approval of the chief restructuring officer and other key...
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