Judge OKs Haights Cross Ch. 11 Plan After 6 Weeks

Law360, New York (February 24, 2010, 6:55 PM EST) -- Just six weeks after it filed for Chapter 11 protection, educational publishing company Haights Cross Communications Inc. has secured bankruptcy court approval for a prepackaged plan to slash its debt by more than half.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware on Wednesday confirmed the company's plan to reduce its debt from about $380 million to about $180 million and extend the debt maturity for at least another three years.

The White Plains, N.Y.-based company said it expects to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.