TLC Vision's 4th Amended Ch. 11 Plan A Go

Law360, New York (March 26, 2010, 5:50 PM EDT) -- A bankruptcy court has approved a fourth amended Chapter 11 restructuring plan by TLC Vision Corp. that would create newly formed entities run by Charlesbank Capital Partners LLC and repay secured lenders in full.

The U.S. Bankruptcy Court for the District of Delaware on Tuesday signed off on the plan, which provides full recovery for about $107.5 million in claims from prepetition lenders.

The company's common stock and interests will be transferred to a set of buyer parties likely to consist of new entity affiliates of...
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