IRS, TCBY Not Sweet To Mrs. Fields Ch. 11 Plan

Law360, New York (September 26, 2008, 12:00 AM EDT) -- The IRS and an independent association representing a debtor in Mrs. Fields' Original Cookies Inc.'s Chapter 11 bankruptcy proceedings have objected to the company's joint prepackaged plan of reorganization because it fails to address how the debtors will handle certain prepetition claims and franchise agreements.

In objections filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, the IRS said it objected to the plan if its prepetition claims totaling $216,000 were not paid in cash by the plan's effective date, slated for some...
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