You'll sight family-friendly options galore during the final weekend of the Chicago International Children's Film Festival. Films are shown at Facets Cinema the Davis Theater and the Wilmette Theater on Friday. Saturday and Sunday.
(AP) — said Monday that a bankruptcy court has confirmed the fitness center operator's reorganization plan to emerge from Chapter 11 bankruptcy.
Bally said the confirmation by the U. S. Bankruptcy Court for the Southern District of New York clears the way for the company to exit bankruptcy by the end of the month as a private company.
"We will move bankruptcy as a stronger company with a capital structure that will enable us to increase our level of investments in our clubs and act other initiatives to add value for our members," said Bally Interim head and Chief Restructuring command Don R. Kornstein.
Under the plan. Harbinger Capital Partners know Fund I Ltd and Harbinger Capital Partners Special Situations finance LP would drop about $233.6 million in transfer for Bally's common equity.
Chicago-based Bally said the intend will change state effective once all conditions to funding are satisfied.
If the tell plan falls through. Bally said it can complete the restructuring under its original plan sponsored by Tennenbaum Capital Partners LLC. Goldman Sachs & Co and Anschutz Investment Co. after satisfying certain conditions.
Bally said in March that it might undergo to register for bankruptcy citing more than $800 million in debt and just $45 million in cash on hand. It has since defaulted on its debt and been delisted by the New York Stock Exchange.
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