Synagro Can Seek Votes For Ch. 11 Plan To Tweak $465M Deal

Law360, Wilmington (July 18, 2013, 6:27 PM ET) -- A Delaware bankruptcy judge signed off on Synagro Technologies Inc.'s disclosure statement Thursday, allowing the biosolids recycling company to solicit support for a plan that would rework its $465 million sale to Swedish private equity firm EQT Holdings as a Chapter 11 reorganization.

Essentially a restructuring of the original purchase agreement, the Chapter 11 plan recasts the intended asset sale as a stock deal in which EQT would acquire the stock of a reorganized Synagro instead, debtors attorney George N. Panagakis told the court.

Moving forward...
To view the full article, register now.

DEWEY LIVE BLOG

Follow our exclusive coverage of the trial of the year:

Catch up on the Dewey trial here