Noteholders Back Trump Hotel Developer's Ch. 11 Plan

Law360, New York (May 09, 2013, 6:35 PM ET) -- Newland International Properties Corp., the developer behind a Trump-brand hotel tower in Panama, got full support for its Chapter 11 plan from the noteholders that hold its $220 million debt, the plan solicitation agent said Thursday.

Investment banking firm AGCM Inc. said 100 percent of the holders of Newland’s 9.5 percent senior secured notes voted for the prepackaged plan, which was presented with the developer’s petition for Chapter 11 protection last week.

"I'm extremely pleased with the outcome of this plan solicitation,” AGCM President and CEO...
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