All Green Lights For Motor Coach's Ch.11 Plan

Law360, New York (January 29, 2009, 12:00 AM EST) -- Motor Coach Industries International Inc. expects to exit Chapter 11 bankruptcy in a matter of weeks now that the bus maker's reorganization plan has been confirmed, granting all the equity of the reorganized company to the senior lender and leaving unsecured creditors empty-handed.

Judge Brendan J. Shannon of the U.S. Bankruptcy Court for the District of Delaware confirmed the amended plan after a hearing Thursday, authorizing a reorganization despite trenchant opposition from the official committee of unsecured creditors.

In reorganization, MCI will be handed over to...
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