Goody's Files Ch. 11 Plan In Accord With Creditors

Law360, New York (November 30, 2009, 1:43 PM EST) -- Clothing retailer Goody’s LLC has filed a Chapter 11 liquidation plan developed in collaboration with its committee of unsecured creditors, which had initially wanted the court to throw the bankruptcy out.

In a disclosure statement filed along with the plan Wednesday in the U.S. Bankruptcy Court for the District of Delaware, Goody's said the plan represented its collaborative efforts with the committee to maximize the immediate cash distribution to claims holders.

The debtor estimates that under the plan all administrative expense claims, priority tax claims, priority...
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