Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
D.C.
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Mass.
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
N.Carolina
N.Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
S.Carolina
S.Dakota
Tennessee
Texas
Utah
Vermont
Virginia
Washington
W.Virginia
Wisconsin
Wyoming
Law Firm Website Design Companies : The Good, The Bad, and The Ugly


Heartland Publications LLC, the owner of 23 daily newspapers and other publications in nine states, filed for Chapter 11 bankruptcy protection on Monday after agreeing with its major lender on a plan to cut the company's debt load by more than half.

The privately held company is one of at least a dozen newspaper publishers forced into bankruptcy protection by the recession, which dampened advertising sales in an industry that was already seeing readers and advertisers migrate to the Web.

In its filing in U.S. Bankruptcy Court in Wilmington, Del., Heartland reported assets of roughly $134 million and debts of $166 million.

Heartland spokeswoman Rivian Bell said the company's top lender, GE Capital, has agreed to reduce what it is owed to $70 million from roughly $111 million. In exchange, the financial-services arm of the industrial conglomerate General Electric Co. would get a 90 percent stake in the company.

Bell said the company's largest unsecured creditor, the hedge fund Silver Point Finance LLC, would get the remaining 10 percent ownership stake in exchange for the roughly $44 million it is owed, though Silver Point has not yet agreed to the reorganization plan. Silver Point did not respond to a request for comment.



Legal News | Breaking News | Terms & Conditions | Privacy

ⓒ Breaking Legal News. All Rights Reserved.

The content contained on the web site has been prepared by BLN as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case. Affordable law firm web design company
   More Legal News
   Legal Spotlight
   Exclusive Commentaries
   Attorney & Blog - Blog Watch
   Law Firm News  1  2  3  4  5  6 
   Lawyer & Law Firm Links
Car Accident Lawyers
Sunnyvale, CA Personal Injury Attorney
www.esrajunglaw.com
Family Law in East Greenwich, RI
Divorce Lawyer, Erica S. Janton
www.jantonfamilylaw.com
Oregon DUI Law Attorney
Eugene DUI Lawyer. Criminal Defense Law
www.mjmlawoffice.com
New York Surrogacy Lawyers
New York Adoption Lawyers
Adoption Pre-Certification
www.lawrsm.com
Chicago, Naperville IL Workers' Compensation Lawyers
Chicago Workplace Injury Attorneys
www.krol-law.com
Raleigh, NC Business Lawyer
www.rothlawgroup.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
Connecticut Special Education Lawyer
www.fortelawgroup.com
Immigration Attorney in Los Angeles, California
Family Immigration Attorney
www.brianohlaw.com/english
Employer Defense Attorney
Gardena Labor Law Defense Lawyers
www.aclawfirm.net
   More Legal News  1  2  3  4  5  6
   Legal News Links
  Click The Law
  Daily Bar News
  The Legal Report
  Legal News Post
  Crisis Legal News
  Legal News Journal
  Korean Web Agency
  Law Firm Directory