TV Producer RHI Aims To Cut Debt In Half In Ch. 11

Law360, New York (December 10, 2010, 6:38 PM EST) -- RHI Entertainment Inc. — which is facing a shareholder class action over its 2008 initial public offering — filed for Chapter 11 Friday, presenting a prepackaged restructuring plan that would cut the television producer's debt in half.

RHI and 16 affiliates submitted the petition to the U.S. Bankruptcy Court for the Southern District of New York, having secured creditor support for a reorganization plan that would reduce its debt load by $309 million.

The petition — listing debts and assets of $524.7 million and liabilities of...
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