News
Uno in process of exiting bankruptcy
May 12, 2010
Uno Restaurant Holdings Corp. is in court negotiations to exit bankruptcy by turning company ownership over to senior lenders, according to Reuters. Company stakeholders are to turn in their voting decisions by June 14.
From the story:
If supported by lenders, senior secured noteholders will own 100 percent of the new common stock of the company, according to the plan filed in New York bankruptcy court on Tuesday.General unsecured creditors will not be repaid by the bankrupt company, but the majority noteholder group has agreed to buy some claims for 10 percent on the dollar.
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