With Creditors' Support, Finlay Eyes Liquidation

Law360, New York (March 30, 2010, 5:40 PM EDT) -- Bankrupt jeweler Finlay Enterprises Inc. has filed a liquidation plan that would provide full recovery for first- and second-lien lenders and partial recovery for third-lien lenders and general unsecured creditors, all of which support the plan.

According to the disclosure statement filed along with the plan on Friday in the U.S. Bankruptcy Court for the Southern District of New York, assets from the liquidation will first be used to pay first- and second-lien and other priority claims. The remainder will then be distributed among third-lien creditors....
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