Global Power Reaches Agreement With Creditors

Law360, New York (August 29, 2007, 12:00 AM EDT) -- Edging ever closer to the finish line of its bankruptcy proceedings, Global Power Equipment Group Inc. revealed on Tuesday that it has reached an agreement with its creditors committee on the terms of its Chapter 11 plan.

The agreement between Global Power, the official committee of unsecured creditors, the official committee of equity security holders and the ad hoc committee of senior subordinated noteholders will establish certain terms and conditions that will pave the way towards Global Power's emergence from bankruptcy.

It includes a rights offering...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.