Real Industry Floats Ch. 11 Plan With $17.5M Equity Buy

Law360 (March 2, 2018, 7:38 PM EST) -- Bankrupt metal recycler Real Industry Inc. filed a motion Thursday in Delaware seeking approval of a disclosure statement outlining its Chapter 11 plan that would see existing equity holders receive 51 percent of the equity in a reorganized company while other investors would pay $17.5 million for the remainder.

In its motion and plan documents, Real Industry said that existing Series B preferred interest holders and common interest holders would have their shares canceled, but would share in 51 percent of the reorganized company, with the...
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