Judge Clears Way For Idearc To Exit Ch. 11

Law360, New York (December 10, 2009, 6:29 PM EST) -- With major creditor groups now behind its reorganization plan, phone book publisher Idearc Inc. expects to emerge from Chapter 11 at the end of December, having shed more than $6 billion in debt.

Idearc said Thursday that it had completed a two-day confirmation hearing for its plan of reorganization, and received word from Judge Barbara J. Houser of the U.S. Bankruptcy Court for the Northern District of Texas that it was time to draw up a final confirmation order.

The judge also approved a global settlement...
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