Indiana Toll Road Operator Wins Approval of Bankruptcy Plan

The operator of the Indiana Toll Road, which paid $3.8 billion for a 75-year operating lease, won court approval of a plan to exit bankruptcy protection in just over a month after working with creditors for years (In re ITR Concessions Co., Bankr. N.D. Ill., 14-34284, plan confirmed 10/28/14).

U.S. Bankruptcy Judge Pamela S. Hollis in Chicago granted ITR Concession Co. approval of the reorganization plan Oct. 28, which is supported by more than 87 percent of senior secured debtholders and enjoys unanimous acceptance by equity owners.

“This is the end result of over two and a ...