JPMorgan, Cerberus Not Bowled Over By AMF Ch. 11 Plan

Law360, New York (December 4, 2012, 6:09 PM EST) -- JPMorgan Chase Bank NA and a unit of private equity firm Cerberus Capital Management LP on Monday objected to AMF Bowling Worldwide Inc.’s restructuring plan, telling a Virginia federal judge the bankrupt bowling center operator had not won over key lenders.

JPMorgan and Cerberus Series Four Holdings LLC, which hold $79.7 million in AMF Bowling Worldwide Inc.’s debt, said only a handful of the company’s first-lien lenders approved of the Chapter 11 plan.

“There are better ways to restructure the debtors in a manner that will...
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