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 . . .