U.S. data, Europe woes to set tone

NEW YORK - Investors will grapple next week with major U.S. economic reports and the looming possibility of a Greek exit from the euro zone, which is likely to keep dragging on equities for weeks to come.

» More Business News

Use social media in your job search

BOSTON - The widespread use of social media - including more playful sites like Facebook and Twitter, as well as the business-focused LinkedIn - is becoming a powerful force in many job searches, says Harvard Business Review.

» More Small Business News

China denounces EU airline carbon law, seeks talks

BEIJING/HONG KONG - China reiterated its opposition on Thursday to a European Union plan to limit airline carbon dioxide emissions and called for talks to resolve the issue a day after its major airlines refused to pay any carbon costs under the new law.

» More Green Business News

Yellow pages RH Donnelley cleared to exit bankruptcy

By Tom Hals

WILMINGTON, Delaware | Tue Jan 12, 2010 2:30pm EST

WILMINGTON, Delaware (Reuters) - Yellow pages publisher R.H. Donnelley Corp received U.S. court approval on Tuesday for its plan of reorganization, clearing the way for it to exit bankruptcy.

The company will emerge having shed about $6.4 billion in debt and $500 million in annual interest payments.

The publisher filed for bankruptcy in May with a pre-arranged plan of reorganization, which led to a relatively quick restructuring given the number of creditors and amount of debt.

"It is remarkable to see a case with 100,000 creditors vote in this overwhelming fashion and it is a testament to the plan. I am delighted they are emerging from bankruptcy in such fine fashion," U.S. Bankruptcy Judge Kevin Gross said.

The company transferred all of the company's equity to bondholders in exchange for the $6.0 billion in unsecured debts.

The case is: In re: R.H. Donnelley Corp, U.S. Bankruptcy Court, District of Delaware, No 09-11833.
Deals
Global Deals Review: 2011 Q3
Global Deals Review: 2011 Q2
Global Deals Review
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.