Ahern Noteholders Aim For Takeover In Rival Ch. 11 Plan

Law360, Wilmington (February 11, 2013, 9:37 PM EST) -- Ahern Rentals Inc.’s noteholders on Friday lodged a competing reorganization plan under which they would take control of the bankrupt equipment rental company to satisfy $267 million of debt, saying under their plan creditors will fare better than they would under the plan proposed by Ahern.

The noteholders’ plan will improve Ahern’s liquidity and alter its capital structure to comport with “present and future operating prospects,” which currently cast doubt on the company’s ability to service its debt, according to a disclosure statement filed in Nevada...
To view the full article, register now.