GSC Trustee Files Amended Ch. 11 Plan After $235M Sale

Law360, New York (October 5, 2011, 7:50 PM EDT) -- The trustee for bankrupt investment management group GSC Group Inc. on Tuesday filed an amended Chapter 11 plan calling for all GSC equity interests to be canceled, and for the company to reorganize as part of its $235 million sale to Black Diamond Capital Management LLC.

U.S. Bankruptcy Judge Arthur Gonzalez had approved the sale of the company’s assets in July to Black Diamond, to whom it had owed $209 million when it filed for Chapter 11 protection in August 2010 with about $8 billion in...
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