Travelport Lays Out Prepackaged Ch. 11 Plan

Law360, New York (September 22, 2011, 4:23 PM EDT) -- Travel reservation system provider Travelport Holdings Ltd., the largest shareholder of Orbitz Worldwide Inc., on Wednesday laid out a possible prepackaged Chapter 11 plan in a regulatory filing with the U.S. Securities and Exchange Commission.

The disclosure statement is a step toward filing for bankruptcy protection, which the company said it would do once it receives approval of the disclosure statement from certain lenders and equity holders.

According to the filing, Travelport's bankruptcy strategy would hinge on the restructuring of $715 million outstanding on its payment-in-kind...
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