Creditors Balk At Parking Corp. $111M Asset Sale Plan

Law360, New York (April 14, 2010, 11:59 AM EDT) -- Unsecured creditors of bankrupt airport parking lot operator Parking Corp. of America Airports, a subsidiary of Macquarie Infrastructure Co., have asked a court not to confirm the company's disclosure statement, which describes a plan to sell the company's assets for $111.5 million.

In an objection filed Tuesday in the U.S. Bankruptcy Court for the District of Delaware, the official committee of unsecured creditors argued that the disclosure statement didn't give them enough information to evaluate the plan and that, in any case, the plan couldn't be...
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