Daily News: April 18, 2012

Coach America Holdings Updates Sale Auction Proceedings

Coach America Holdings Inc. announced that it has re-scheduled the sale auction date related to its Chapter 11 proceedings to April 25, 2012. The sale auction had originally been scheduled for April 18, 2012. The one-week delay reflects the timely submission from the Pre-Petition First Lien Agent, pursuant to Section 9.1 of the Prepetition First Lien Credit Agreement, of its intent to submit a Credit Bid under Section 363 of the U.S. Bankruptcy Code.

As previously announced on January 3, 2012, Coach America Holdings Inc. and its U.S.-based subsidiaries filed to reorganize under Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware.

Coach America is a tour and charter bus operator and the second largest motorcoach service provider in the U.S. surface transportation industry.

Previously on abfjournal.com:

Coach America Holdings Receives Approval of Interim DIP Financing, Friday, January 06, 2012