Secure Home’s Reorg Plan to Hand Control to Creditors Approved

Secure Home Holdings LLC got bankruptcy court approval on a Chapter 11 plan to hand control of the security company to creditors led by Invesco Ltd.

The plan, approved Tuesday by the U.S. Bankruptcy Court for the District of Delaware, allows Secure Home to shed $220 million of debt and keep operating as a going concern.

The Newtown Square, Pa.-based company, which provides home and commercial alarm systems under brands such as My Alarm Center and Hawk Security Services, filed for bankruptcy in April, owing $197 million to the first lien lenders.

The lenders, who also provided Secure Home’s ...