Winn-Dixie Wins OK On Reorganization Plan

Law360, New York (November 9, 2006, 12:00 AM EST) -- Signaling the light at the end of the tunnel for Winn-Dixie Stores Inc., a federal judge on Thursday gave the green light to the supermarket chain’s reorganization plan, paving the way for its emergence from Chapter 11 bankruptcy protection within 30 days.

U.S. Bankruptcy Judge Jerry Funk confirmed the plan on Thursday, allowing Winn-Dixie to emerge from Chapter 11 reorganization once it receives $725 million in exit financing from Wachovia, issues new stock, and installs its new board of directors.

The ruling, which comes after the...
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