Plan Hearing Set In Young Broadcasting Bankruptcy

Law360, New York (November 5, 2009, 5:27 PM EST) -- A bankruptcy judge agreed Thursday to let creditors choose between the reorganization plan crafted by debtors Young Broadcasting Inc., favored by senior lenders, and a competing plan by the unsecured creditors committee.

In proceedings before Judge Arthur J. Gonzalez in the U.S. Bankruptcy Court for the Southern District of New York, an attorney for Wachovia Corp. and other senior lenders predicted a fiery plan confirmation process.

Judge Gonzalez blocked off the week before Christmas in case the confirmation squabble, set to begin Dec. 21, turns into...
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