Ex-Princeton Review Owner Wins OK For Ch. 11 Exit Plan

Law360, New York (March 7, 2013, 11:07 PM EST) -- The former owner of Princeton Review — renamed Education Holdings 1 Inc. after spinning off the test preparation business amid mounting financial woes — got its Chapter 11 exit plan that includes a $43.5 million exit facility approved by a Delaware bankruptcy judge on Thursday.

U.S. Bankruptcy Judge Brendan L. Shannon confirmed Education Holdings’ modified Chapter 11 plan filed March 3, saying it can now proceed to implement it. General Electric Capital Corp., its units and other senior secured lenders will be the exit financing lenders,...
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