KIT Digital Disclosure Statement, $25M Support Deal OK'd

Law360, New York (June 17, 2013, 1:54 PM EDT) -- KIT Digital Inc. on Monday received court approval for both its disclosure statement and a plan support agreement under which three private equity firms have pledged $25 million to the struggling media technology company’s Chapter 11 reorganization.

U.S. Bankruptcy Judge Robert E. Gerber’s approval of the two documents allows KIT Digital to solicit votes from creditors for its pre-packaged Chapter 11 plan, which will go before Judge Gerber for confirmation in August.

He had previously held off on greenlighting the PSA in May due to the...
To view the full article, register now.