Indiana Toll Road Operator Set for Short Bankruptcy Trip
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The operator of the Indiana Toll Road, which paid $3.8 billion for a 75-year operating lease, won approval of a schedule paving the way to exit bankruptcy court protection in just more than a month.
U.S. Bankruptcy Judge Pamela S. Hollis in Chicago today granted ITR Concession Co.’s request to set an Oct. 28 hearing on its restructuring plan. ITR filed for bankruptcy Sept. 21, saying it had put together a plan that has the support of more than 87 percent of its senior secured debt-holders and unanimous acceptance from its equity owners.