January 30, 2009

MCI reorganization plan confirmed

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.

deli.cio.us digg it stumble upon newsvine
[ Request More Info about this product / service / company ]


E-NEWSLETTER

Receive the latest Metro E-Newsletters in your inbox!

Join the Metro E-Newsletters and receive the latest news in your e-mail inbox once a week. SIGN UP NOW!

View the latest eNews
Express Tuesday | Express Thursday | University Transit

White Papers

Mass Transit Capital Planning An overview of the world-class best practices for assessing, prioritizing, and funding capital projects to optimize resources and align with the organization’s most critical immediate and long-term goals.

The Benefits of Door-to-Door Service in ADA Complementary Paratransit Many U.S. transit agencies continue to struggle with the quality of ADA service, the costs, and the difficulties encountered in contracting the service, which is the method of choice for a significant majority of agencies. One of the most basic policy decisions an agency must make involves whether to provide door-to-door, or only curb-to-curb service.

Mass transit mobile Wi-Fi & the public sector case study How Santa Clara Valley Transportation Authority successfully implemented Wi-Fi on its light rail and bus lines

More white papers


 
DIGITAL EDITION

The full contents of Metro Magazine on your computer! The digital edition is an exact replica of the print magazine with enhanced search, multimedia and hyperlink features. View the current issue