Nebraska Book Seals Deal With Bondholders On Ch. 11 Plan

Law360, Wilmington (March 22, 2012, 4:01 PM EDT) -- Nebraska Book Co. negotiated a truce between its secured bondholders and junior creditors Thursday, allowing the bankrupt college bookstore chain to move forward on a modified reorganization plan.

The company was in Delaware bankruptcy court seeking approval of a so-called plan support agreement struck with parties holding 60 percent of its $200 million in senior secured bonds. Junior noteholders and unsecured creditors — whose once ample recoveries evaporated under a new reorganization plan filed two weeks ago — objected to the PSA, saying it locked Nebraska...
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