Luxury Hotels' Prepackaged Bankruptcy Would Pay Creditors In Full

Luxury Hotels' Prepackaged Bankruptcy Would Pay Creditors In Full

NEW YORK - Two luxury hotels that had their Chapter 11 bankruptcies consolidated filed a plan of reorganization on May 21 in the U.S. Bankruptcy Court for the Southern District of New York in a prepackaged bankruptcy that would repay the hotels' lenders in full; the combined total of secured claims is valued at $368 million (In Re: 205 East 45 LLC and EALC LLC, No. 12-12209, Chapter 11, S.D. N.Y. Bkcy.).   Subscribers may view the reorganization plan available within the full update.

Find full version on lexis Advance®
Access this news story on lexis.com®