USA: Chiquita's reorganisation plan approved by security holders
Cincinnati-based Chiquita Brands International has announced that its pre-arranged Chapter 11 plan of reorganisation has been approved by all required classes of its debt and equity securities. According to a preliminary count of ballots received by the 28 February voting deadline, the plan was approved by more than 90% of the senior notes and subordinated debentures voted, in terms of both principal amount voted and number of holders voting. Holders of more than 90% of the shares of preferred stock voted and common stock voted also approved the plan. The final voting report will be filed with the Court this week.
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