Judge Greenlights Affiliated Media Prepack Plan

Law360, New York (March 4, 2010, 4:28 PM EST) -- A federal bankruptcy judge has approved Affiliated Media's prepackaged Chapter 11 bankruptcy plan over recent objections, allowing the newspaper holding company to emerge from bankruptcy six weeks after it filed for court protection.

Judge Kevin J. Carey of the U.S. Bankruptcy Court for the District of Delaware confirmed the plan at a hearing Thursday. Before filing for bankruptcy in late January, the company and its lenders agreed to the terms of the plan, which will allow it to cut its roughly $930 million in debt to...
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.