The New York City Opera board said it continues to back General Manager George Steel after he announced that the company needs to raise $7 million this month or the first opera of the season would be the last.
Newspaper publisher Tribune Co. filed a Chapter 11 plan yesterday to implement the settlement with some creditors that was announced on April 8. The plan and settlement won’t be approved if the holders of $3.6 billion in pre-bankruptcy secured debt made valid arguments in their bankruptcy court filing yesterday.
The U.S. Supreme Court agreed to hear an appeal from Anna Nicole Smith ’s estate of a ruling that gave the former Playboy model nothing from the fortune left by her billionaire late husband, J. Howard Marshall II .
Publisher Tribune Co. announced yesterday that mediation resulted in agreement with some creditors on a reorganization plan along the lines proposed earlier this month by creditors Oaktree Capital Management LP and Angelo Gordon & Co.