Borders' proposed $505 million postpetition financing has been opposed by the unsecured creditors committee. The financing is up for the court's consideration on March 15.
More details on Borders' exit plans and bankruptcy financing, including the company's request for more time to decide on its unexpired leases, are in BORDERS GROUP BANKRUPTCY NEWS, Issue No. 5,
published by Bankruptcy Creditors' Service, Inc.
The 29-page newsletter contains stories with these headlines:
[00059] BORDERS TARGETS BANKRUPTCY EXIT IN SEPTEMBER, SAYS CEO
[00060] BORDERS TO LIQUIDATE 75 ADDITIONAL STORES
[00061] DEBTORS' MOTION TO OBTAIN $505-MIL. IN DIP FINANCING
[00062] DEBTORS' 1ST MOTION TO EXTEND LEASE DECISION PERIOD
[00063] BORDERS GETS COURT NOD TO LIQUIDATE 200+ STORES
[00064] DEBTORS' MOTION FOR INJUNCTION AGAINST UTILITY COMPANIES
[00065] DEBTORS' MOTION TO ESTABLISH LEASE REJECTION PROCEDURES
[00066] DEBTORS' 1ST OMNIBUS MOTION TO REJECT UNEXPIRED LEASES
[00067] DEBTORS' MOTION TO ASSUME NCC WESTWOOD LEASE
[00068] DEBTORS' APPLICATION TO EMPLOY KASOWITZ BENSON AS COUNSEL
[00069] DEBTORS' APPLICATION TO HIRE DICKINSON WRIGHT AS COUNSEL
[00070] COMMITTEE'S APPLICATION TO RETAIN LOWENSTEIN SANDLER
[00071] NYSE DELISTS BORDERS GROUP COMMON STOCK
[00072] BORDERS MAY EMERGE FROM BANKRUPTCY IN SMALLER FORM
[00073] MANGA PUBLISHER LAYS OFF STAFF, CITES BORDERS BANKRUPTCY
[00074] BORDERS CELEBRATES MARCH AS KID'S READING MONTH
A copy of today's newsletter can be purchased on-line with a major credit card at https://ecommerce.bankrupt.com/bin/ibl_re?co_name=BORDERS|GROUP for $45. Copies of all back issues are also available for purchase at BCSI's on-line newsstand.
BORDERS GROUP BANKRUPTCY NEWS tracks the restructuring of Borders Group Inc (MI).
How to Subscribe to BORDERS GROUP BANKRUPTCY NEWS
BORDERS GROUP BANKRUPTCY NEWS is distributed to paying subscribers by electronic mail. New issues are published on an ad hoc basis as significant activity occurs (generally every 10 to 20 days) in the Debtors' cases. The subscription rate is $45 per issue. Newsletters are delivered via e-mail; invoices, transmitted following publication of each newsletter issue, arrive by fax. Distribution to multiple individuals at the same firm is provided at no additional charge; folks outside of your firm should set-up and pay for their own subscriptions. Subscriptions may be canceled at any time without further obligation.
To continue receiving BORDERS GROUP BANKRUPTCY NEWS, please complete and submit the subscription form at https://ecommerce.bankrupt.com/bin/ibl_re?subco_name=BORDERS|GROUP
Company: Bankruptcy Creditors' Service, Inc.
Contact: Peter A. Chapman
Phone: (215) 945-7000
Email: peter[@]bankrupt.com
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