Phone Book Publishers' Ch. 11 Plans Get Approval

Law360, Wilmington (November 3, 2011, 6:03 PM EDT) -- A Delaware bankruptcy judge on Thursday gave his blessing to the reorganization plans of Local Insight Media Holdings and Caribe Media Inc., which will slash a combined $1 billion in debt from the related phone directory publishers' balance sheets.

U.S. Bankruptcy Judge Kevin Gross approved the plans after an uncontested confirmation hearing. Both plans had near unanimous support from creditors entitled to vote, according to Ross Kwasteniet of Kirkland & Ellis LLP, an attorney for both debtors.

Denver-based Local Insight — the fifth-largest yellow pages publisher...
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