Neff Scores Chapter 11 Plan Approval

Law360, New York (September 21, 2010, 7:20 PM EDT) -- Neff Corp.’s Chapter 11 plan received court approval Tuesday, setting the stage for the heavy equipment rental company to emerge from bankruptcy soon, with its debt load diminished by more than $400 million.

Judge Shelley C. Chapman of the U.S. District Court for the Southern District of New York confirmed the plan, sponsored by private investment funds managed by Wayzata Investment Partners LLC. Wayzata has committed about $181.6 million in equity financing to Neff.

Neff also plans to take advantage of a $175-million revolving credit facility...
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