MCI reorganization plan confirmed
MCI and its U.S. subsidiaries filed voluntary petitions for Chapter 11 on September 15, 2008 to implement a pre-negotiated restructuring plan.
Judge Brendan L. Shannon of the United States Bankruptcy Court for the District of Delaware entered an order confirming the Second Amended Joint Plan of Reorganization for Motor Coach Industries (MCI) and certain of its affiliated companies. MCI expects the plan to become effective and to emerge from Chapter 11 by the end of February.
"Today marks an important milestone in the restructuring of MCI and sets us on course as an even stronger and more competitive company," said Tom Sorrells, MCI’s president/CEO.
MCI and its U.S. subsidiaries filed voluntary petitions for Chapter 11 on September 15, 2008 to implement a pre-negotiated restructuring plan. The Company is advised by Rothschild Inc., AlixPartners LLP, and Simpson Thacher & Bartlett LLP.
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