Judge Cites Travel’s Plight In Quick Approval Of CWT Bankruptcy Plan

U.S. Bankruptcy Judge Marvin Isgur on Friday afternoon confirmed the Chapter 11 plan of Carlson Travel, parent of CWT. Filed Thursday in the Bankruptcy Court for the Southern District Of Texas, the prepackaged bankruptcy case enjoyed expedited treatment for good reason, according to Isgur.

The confirmation allows CWT to complete a restructuring that provides it with $350 million in new equity capital and reduces its $1.6 billion in debt by about half. In response to the decision, CWT issued a statement indicating . . .

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Jay Campbell

Author: Jay Campbell

Jay Campbell in 2004 created travel business newsletter The Beat, in 2006 co-founded Travel Procurement magazine and in 2010 integrated them with Business Travel News. He served as editorial director until 2013. Jay made his travel industry media debut in 1993 at the Air Travel Journal of Boston while earning his undergraduate degree in journalism at Boston University.
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