- U.S. Bankruptcy Judge
David R. Jonesoverruled objections by a handful of preferred shareholders who complained they should be given priority over common shareholders
- Under the reorganization plan, bondholders get 89% of the new CBL and shareholders 11% when the company exits bankruptcy protection later this year
- Preferred shareholders and common shareholders will split that 11% stake equally; the preferred shares demanded more
- Jones rejected that complaint, noting that more than 95% of preferred shareholders had already voted to accept the ...
Aug. 11, 2021, 5:14 PM