Current updates are not available. Earlier updates remain below for historical context and may no longer reflect the case’s current position.
Earlier updates
These updates were replaced by later case developments and may no longer reflect the current case.
Plan·
The court confirmed Morris Publishing’s prepackaged joint plan and approved the related disclosure statement after the February 17 combined hearing, less than a month after the Chapter 11 filing Dkt. 166. The confirmation order found that solicitation and vote tabulation were fair, in good faith and compliant with the Bankruptcy Code, approved the disclosure statement as containing adequate information, and overruled objections not resolved or withdrawn Dkt. 166.
The confirmed plan left the secured loan tranches, general unsecured claims and equity interests unimpaired, while Class 6 senior noteholders received their pro rata share of the new notes Dkt. 11. On the same day, the court entered a final cash-collateral order allowing use of cash collateral through the earlier of April 19, 2010, the plan effective date, or a default, subject to a 13-week budget and adequate protection for lenders owed at least $136.5 million Dkt. 163. The pairing of confirmation with final cash-collateral authority kept the prepack on a tight emergence track rather than turning the case into an extended operating restructuring.
