Court Confirms Jackson Hewitt Tax Service’s Chapter 11 Plan; Company Ready to Emerge

The U.S. Bankruptcy Court for the District of Delaware issued an order confirming Jackson Hewitt Tax Service Inc.'s prepackaged reorganization plan Aug. 8 (In re Jackson Hewitt Tax Service Inc.).

Jackson Hewitt will emerge from Chapter 11 protection as a private company, according to the company’s Aug. 9 news release. The majority owner of the company’s new equity will be Bayside Capital, an affiliate of H.I.G. Capital, the largest holder of Jackson Hewitt’s secured debt prior to restructuring, the press release said.

Under the plan, nearly two-thirds of the company’s debt will be forgiven, according to the press ...