Neff Leaves Ch. 11 After Creditors Boost Recovery

Law360, New York (October 4, 2010, 2:30 PM EDT) -- After receiving $182 million in backing from Wayzata Investment Partners LLC, completing a restructuring, and negotiating a deal with a relatively small but vocal group of creditors, Neff Rental Inc. has emerged from bankruptcy.

The Miami-based construction rental company's effective date was Friday, per a thrice-amended plan approved Sept. 21 in the U.S. Bankruptcy Court for the Southern District of New York.

Neff, which employs 900 people, said creditors voted "overwhelmingly" to approve the plan, which also provides the company with a $175 million revolving credit...
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