We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Botched Asset Sales Push Granite Into Chapter 11

Law360 (December 13, 2006, 12:00 AM EST) -- Hearings began Wednesday in the Chapter 11 case of Granite Broadcasting Corp., a New York media company that entered court with more than $600 million in debt and a prenegotiated reorganization plan.

Lawyers with Akin, Gump, Strauss, Hauer & Feld LLP filed Granite’s petition for relief on Dec. 11 in the U.S. Bankruptcy Court for the Southern District of New York. The company listed $443.6 million in assets and $641.1 million in debts, as of Sept. 30.

The company’s Chapter 11 filing, which will be handled...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.