MCORP APPEALS BANKRUPTCY DECISION
MCORP APPEALS BANKRUPTCY DECISION DALLAS, Jan. 17 /PRNewswire/ -- On Jan. 7, 1992, Bankruptcy Judge
Letitia Z. Clark issued a decision and entered an order denying confirmation of the Chapter 11 plans dated Sept. 30, 1991 for MCorp and its affiliates. MCorp has decided to appeal the order denying confirmation to Judge Lynn Hughes, United States District Judge for the Southern District of Texas and has the overwhelming support of its creditors in taking such action.
MCorp has received creditor support for the decision to appeal. MCorp and its affiliates have received waivers from more than two-thirds of its senior and junior creditors and has today filed its appeal of the order denying confirmation. The waivers extending the confirmation deadline were required by terms of the plans of reorganization. This deadline was extended to April 15, 1992. MCorp believes that the extension of the plan deadlines, and filing of the appeal, is in the best interests of all of the creditors. -0- 1/17/92 /CONTACT: Kenneth Shaver of MCorp, 214-939-5889/ CO: MCorp ST: Texas IN: SU: SM -- NY060 -- 1103 01/17/92 16:03 EST
|Printer friendly Cite/link Email Feedback|
|Date:||Jan 17, 1992|
|Previous Article:||SOME 5,000 JOBS CREATED BY ITT SHERATON HOTEL PROJECTS IN NORTH AMERICA|
|Next Article:||PHH CORP. $100 MILLION 4.4 PERCENT NOTES RATED 'A+' BY FITCH -- FITCH FINANCIAL WIRE --|