Trash Hauler EnviroSolutions Wins Exit From Ch. 11

Law360, New York (July 21, 2010, 5:18 PM EDT) -- A judge has approved a reorganization plan for bankrupt trash hauler EnviroSolutions of New York LLC, allowing the company to emerge from Chapter 11 protection by handing virtually all its equity over to secured lenders.

Judge Stuart M. Bernstein confirmed the plan Wednesday in the U.S. Bankruptcy Court for the Southern District of New York, according to lawyers involved in the case. The move came after objections raised by second-lien noteholders and other creditors had been resolved.

The waste disposal company modified its plan earlier this...
To view the full article, register now.