Judge Agrees To Fast-Track Revised A&P Ch. 11 Plan

Law360, New York (February 16, 2012, 7:36 PM EST) -- A New York bankruptcy judge allowed The Great Atlantic & Pacific Tea Co. to fast-track its bankruptcy plan Thursday after the company’s exit financing package had to be reduced to $645 million, leaving unsecured creditors with the likelihood of lower recoveries.

U.S. Bankruptcy Judge Robert D. Drain agreed to set a Feb. 27 hearing date for confirmation of A&P’s revised Chapter 11 plan, which came about after its $750 million exit financing agreement had to be cut down because some of the original terms “were not...
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