NTK Gets Thumbs Up For $1.3B Restructuring

Law360, New York (December 4, 2009, 6:23 PM EST) -- A federal judge has approved the prepackaged reorganization plan for NTK Holdings Inc. — the parent company of heating, ventilation and consumer technology manufacturer Nortek Inc. — clearing the way for the company to emerge from Chapter 11 relieved of $1.3 billion in debt.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware signed off on the reorganization plan Thursday, less than six weeks after the HVAC manufacturer filed for bankruptcy protection proposing to strengthen its balance sheet by issuing new...
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