Lionel Files Third Amended Plan

Law360, New York (March 18, 2008, 12:00 AM EDT) -- Grappling with new market conditions, model-train-maker Lionel LLC is asking the bankruptcy court to expedite approval of a third amended reorganization plan and disclosure statement that reflect a change in its debt financing.

On Monday, Lionel filed the motion to fast-track in the U.S. Bankruptcy Court for the Southern District of New York only days before a confirmation hearing had been scheduled on the current reorganization plan.

“Due to material and adverse changes in the credit markets and the U.S. economy generally since last fall, the...
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