Inside these posts: Reorganization plan

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Revised plans presented at Tribune hearing

A hearing to determine the fate of the Tribune Co.’s proposed reorganization plan resumed Tuesday with attorneys for Tribune and attorneys for noteholders who have submitted a competing plan continuing to squabble over technical issues. The judge again signaled his desire for a conclusion to the Chapter 11 case, which has dragged on for more than two years. Get the full story »

Tribune Co. creditor amends reorganization plan

Aurelius Capital Management, the largest junior creditor in the Tribune Co. bankruptcy case, on Monday amended its proposed plan for restructuring the media company in an attempt to make the plan more palatable to senior creditors and the judge presiding over the Chapter 11 proceedings. Get the full story »

1 Tribune Co. reorganization plan withdrawn

A group of lenders to bankrupt Tribune Co. withdrew its reorganization plan for the media company, leaving creditors with three other options when they begin voting on how to end the 2-year-old Chapter 11 case.

Pursuing the plan “was not the best focus of our resources,” said Evan Flaschen, an attorney representing the group, made up of 14 hedge funds, including GreyWolf Capital Management and billionaire George Soros’ Soros Fund Management. Get the full story »

General Growth hurt by reorganization expenses

General Growth Properties, the U.S. mall owner expected to emerge from bankruptcy in early November, reported negative third-quarter funds from operations, taking a hit from reorganization expenses.

Funds from operations for its core mall properties were losses of $29.3 million, or 9 cents a share, compared with a positive $88.9 million, or 28 cents a share a year earlier. Get the full story »

Two Tribune creditors file own reorganization plan

Two of the largest senior creditors in Tribune Co.’s bankruptcy case filed a plan of reorganization in Delaware bankruptcy court Friday, providing an alternative solution to the management plan that has been in place since earlier this year.

The move makes allies out of two distressed debt hedge funds, Angelo, Gordon & Co. and Oaktree Capital Management, that had until recently been at odds with each other. And it comes in advance of a court-ordered mediation that is scheduled to begin Sept. 26. Get the full story »

Schutt Sports files for Chapter 11

Litchfield-based Schutt Sports Inc., a maker of football helmets, face guards and other protective sports gear, said today that it has filed for Chapter 11 bankruptcy protection.

“This process will allow us to continue operating our business as usual and to continue servicing our customers without disruption,” Schutt Chief Executive Robert Erb said. ” We have the support of our bank, a great brand and look forward to strengthening our balance sheet and serving our customers for years to come.” Get the full story »

Uno’s reorganization plan approved

The parent of the Uno Chicago Grill pizza chain has won court approval for its bankruptcy reorganization plan, less than six months after it sought protection from creditors.

Judge Martin Glenn approved the Chapter 11 plan for Uno Restaurant Holdings Corp.  at a hearing Tuesday in the U.S. bankruptcy court in Manhattan. Get the full story »