Penthouse Publisher Floats Ch. 11 Plan To Rework $565M Debt

Law360, Wilmington (September 23, 2013, 4:53 PM EDT) -- Bankrupt FriendFinder Networks Inc., which publishes Penthouse magazine and operates a collection of dating and adult entertainment websites, submitted a Chapter 11 reorganization plan Saturday that calls for restructuring more than $565 million in bondholder debt.

Filed in Delaware bankruptcy court, the proposed Chapter 11 plan envisions issuing new notes to senior creditors and debt-for-equity swap giving junior creditors 100 percent of the new stock in a reorganized company.

The Penthouse publisher and its affiliates “believe that the plan provides the best means currently available for...
To view the full article, register now.




Case Information

Case Title

PMGI Holdings Inc.

Case Number




Nature of Suit

Date Filed

September 17, 2013

Law Firms


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.