Gulfstream Creditors Lay Out Ch. 11 Plan

Law360, New York (July 22, 2011, 3:20 PM EDT) -- Creditors of Florida-based regional air carrier Gulfstream International Group Inc. filed their Chapter 11 plan and disclosure statement Wednesday calling for the distribution to claimholders of the entire $600,000 from Gulfstream’s asset sale to a private equity group this year.

The plan, put forward by the official committee of secured creditors, calls for the individual debtors’ estates to be consolidated and a liquidation trustee to distribute the sale proceeds and an additional $25,000 left over from a carveout settlement with lender SAH-VUL Strategic Partners, according to...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.