RentPath Creditors Cleared to Vote on Reorganization Plan

Bankrupt RentPath Holdings Inc. won approval of the disclosure statement submitted to support its complex reorganization plan pegged on a $587.5 million sale of the business.

Wednesday’s order from Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware allows the residential rental website company to solicit votes for its reorganization plan. The plan predicts different outcomes depending on whether CoStar Group Inc. can close its purchase and whether junior secured creditors vote to accept or reject it.

Holders of more than 90% of claims by first-lien and second-lien creditors already have agreed to accept the ...