We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Reader's Digest Gets DIP Loan Nod, Submits Ch. 11 Plan

Law360, New York (March 22, 2013, 4:50 PM EDT) -- Reader’s Digest Association Inc.’s publisher on Thursday submitted in New York bankruptcy court a reorganization plan that will convert about $475 million in debt into equity, shortly after it received a judge's go-ahead for a $105 million loan.

The plan and accompanying disclosure statement for creditors came a month after the company filed for Chapter 11 protection. Meanwhile, U.S. Bankruptcy Judge Robert D. Drain approved RDA Holdings Co.’s request for a $105 million loan issued by a cohort of private equity groups and arranged by Wells...
To view the full article, register now.

Documents

Related

Sections

Case Information

Case Title

RDA Holding Co., et al.


Case Number

7:13-bk-22233

Court

New York Southern

Nature of Suit

Date Filed

February 16, 2013

Law Firms

Companies

Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.