LodgeNet to file to reorganize under Chapter 11
Post# of 98047
Posted On: 01/01/2013 9:03:45 AM
LodgeNet to file to reorganize under Chapter 11
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By Robert Daniel
TEL AVIV (MarketWatch) -- LodgeNet Interactive Corp., LNET -35.00% the Sioux Falls, S.D., provider of media services, including Internet and television, to hotels and health-care businesses, said it would file to reorganize under Chapter 11 of federal bankruptcy law. Under the plan, the Santa Monica, Calif., investment firm Colony Capital would take over 100% ownership of LodgeNet. In a Monday statement, LodgeNet said its reorganization plan envisions that at the end of the Chapter 11 process, unsecured creditors will be paid in full for their claims filed before the company files its petition. LodgeNet said that Colony Capital would provide $60 million to support the recapitalization and that a panel of LodgeNet's lenders has agreed to extend its current secured credit line. And it said that Colony has agreed to a deal under which DirecTV, DTV +1.50% the El Segundo, Calif., provider of digital-TV services, would expand its partnership with LodgeNet and help deliver new and better LodgeNet services.
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NASDAQ DIP and RIP
Here is the best word that describes what i do here.
Intuitive;
means having the ability to understand or know something without any direct evidence or reasoning process.
I was born with it, I'm truly blessed!
Alway's searching for winners'
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