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Tropicana Creditors Seek Support For Ch. 11 Plan

Law360 (March 24, 2009, 12:00 AM EDT) -- Unsecured creditors are urging voters to support Tropicana Entertainment LLC's Chapter 11 reorganization plan, which calls for secured debt to be converted to common stock and for general unsecured debt to be discharged in exchange for warrants, interests in a litigation trust and cash for certain creditors.

Tropicana said Tuesday that it had begun distributing the ballots, which are accompanied by a letter of support from the unsecured creditors committee. The letter says the committee believes it has obtained the best treatment of general unsecured claims...
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