Category: Bankruptcy Updates

Lee Enterprises Completes Refinancing; to Emerge From Chapter 11

As previously announced, Lee Enterprises, a provider of local news, information and advertising in 52 markets, has implemented comprehensive refinancing agreements. The refinancing agreements were approved by the U.S. Bankruptcy Court for the District of Delaware and allows the company to emerge from Chapter 11 protection.

Teamsters Warn Hostess Not to Misuse Bankruptcy Process

The Teamsters Union on Thursday, January 26 warned Hostess Brands Inc. not to misuse the bankruptcy process in an attempt to bully its way to unnecessary operations changes, saying a consensual resolution with sacrifices by all stakeholders is what is required.

Lee Enterprises Refinancing to Take Effect January 30

Lee Enterprises has completed the remaining steps to enable its refinancing agreements. The agreements extend the maturities of Lee’s borrowings to December 2015 and April 2017. The plan of reorganization was confirmed by Chief U.S. Bankruptcy Judge Kevin Gross in the District of Delaware. Lee is scheduled to emerge from Chapter 11 on January 30, 2011.