Judge OKs Lender-Backed Young Broadcasting Plan

Law360, New York (April 19, 2010, 5:59 PM EDT) -- A bankruptcy judge on Monday approved a Chapter 11 restructuring plan put forward by Young Broadcasting Inc.'s senior lenders, saying a rival plan filed by the company's committee of unsecured creditors was not likely enough to succeed.

Chief Judge Arthur J. Gonzalez of the U.S. Bankruptcy Court for the Southern District of New York found that the economic projections the unsecured creditors submitted to bolster support for their plan painted a rosy picture that was unlikely to materialize.

Because he was unable to confirm the creditors...
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