Notes Trustees Seek Indemnity In IHeartMedia Ch. 11 Plan
Law360 (January 7, 2019, 9:02 PM EST) -- The indenture trustees for priority guarantee notes issued by iHeartMedia Inc. told a Texas bankruptcy court that the distressed broadcast giant should amend its pending financial restructuring plan, contending that prebankruptcy indemnity protections must be preserved.
IHeartMedia’s Chapter 11 plan of reorganization should be amended to protect Wilmington Trust NA, Computershare Trust Co. NA, Deutsche Bank Trust Company Americas, UMB Bank NA, BOKF NA and US Bank NA from potential claims by PGN noteholders that opted out of third-party litigation releases, the objectors argued in documents filed between Friday and Monday. According to the trustees, the company has not provided any...
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