Interstate Says Chapter 11 Plan Is Fully Baked

Law360, New York (November 6, 2007, 12:00 AM EST) -- Despite the arrival of billionaire Ron Burkle onto the scene, Interstate Bakeries Corp. has gone ahead and filed its own reorganization plan and disclosure statement, contending that its own proposal is the best option for emergence currently on the table.

Interstate Bakeries Corp. submitted a restructuring proposal on Monday to the U.S. Bankruptcy Court for the Western District of Missouri. The proposal came only days after Burkle's investment firm, Yucaipa Cos., expressed interest in snatching up the maker of Wonder Bread and Twinkies.

“The company believes...
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