Unusual ruling subordinates noteholders in 1996 bankruptcy | Business Information & News | Westlaw

Unusual ruling subordinates noteholders in 1996 bankruptcy | Business Information & News | Westlaw

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10/17/14 REUTERS LEGAL 10:00:00
REUTERS LEGAL
Copyright © 2014 Thomson Reuters
October 17, 2014
Unusual ruling subordinates noteholders in 1996 bankruptcy
Tom Hals
(Reuters) - A judge has taken the unusual step of pushing a group of noteholders to the back of the payment line in a bankruptcy because they used a nearly two-decades old restructuring to try to get their money ahead of the Internal Revenue Service....
---- Index References ----
Company: SIMMONS; BIOMMUNE TECHNOLOGIES INC; SCOTT CABLE COMMUNICATIONS INC; ALLSTATE CORP (THE); WESTERN PACIFIC TRUST CO; INTERLINK COMMUNICATIONS PARTNERS LLC; STATE STREET CORP
News Subject: (Bankruptcies (1BA08); Business Management (1BU42); Corporate Events (1CR05); Taxation (1TA10); Corporate Groups & Ownership (1XO09); Corporate Restructuring (1RE42))
Industry: (Accounting, Consulting & Legal Services (1AC73); Cable TV (1CA92); TV (1TV19); Entertainment (1EN08))
Region: (Americas (1AM92); Connecticut (1CO13); U.S. New England Region (1NE37); North America (1NO39); Delaware (1DE13); USA (1US73); U.S. Mid-Atlantic Region (1MI18))
Language: EN
Other Indexing: (Jonathan Ernst; Lydia Bottome; Abid Qureshi; Kevin Mangan; Kevin Carey)
Keywords: banking; bankruptcy (MCC:f); (N2:US); (N2:AMERS); (N2:USA); (MCCL:OEC)
Word Count: 590
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