Everest Ch. 11 Plan Swaps $90M Building Debt

Law360, New York (July 19, 2010, 1:48 PM EDT) -- Everest Holdings LLC, the bankrupt owner of a high-end real estate development in Denver, has proposed a Chapter 11 plan that would hand the reorganized company over to prepetition lenders owed more than $90 million in construction loans.

On Friday, Everest filed the latest version of its reorganization plan in the U.S. Bankruptcy Court for the District of Colorado, propounding a transaction that transfers assets to a new company and gives prepetition lenders led by Hypo Real Estate Capital Corp. a pro rata share of the...
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