Reader's Digest Enters New Yet Familiar Chapter: 11

Law360, New York (February 19, 2013, 8:13 PM EST) -- A New York bankruptcy judge on Tuesday approved $11 million in short-term borrowing to fund Reader’s Digest Association Inc.’s operations in the publisher’s first court appearance since filing for Chapter 11 for the second time in less than four years on Sunday.

The short-term funding approved on an interim basis by U.S. Bankruptcy Judge Robert Drain — who oversaw the previous Reader’s Digest bankruptcy — is part of the $45 million Reader’s Digest says it will have to borrow in order to fund its operations through...
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