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BRIEF-Hostess made agreements on some objections to wind-down plan
November 21, 2012 / 5:26 PM / 5 years ago

BRIEF-Hostess made agreements on some objections to wind-down plan

Nov 21 (Reuters) - Flowers Foods Inc : * US bankruptcy judge in hostess brands inc case says details of tuesday’s

mediation are to remain confidential * Hostess brands’ creditors’ committee came to agreement w/ hostess on certain

things * Hostess brands’ unsecured creditors committee says agreed no preference or

chapter 5 actions may be brought against unsecured creditors * Unsecured creditors committee says secured creditors agreed to allow an

additional $1 million to be distributed in the form of 1 day’s extra pay to

all hostess employees whether they went on strike or not * Unsecured creditors committee says it has found no action that it wishes to

pursue against secured creditors * Hostess has made agreement w/ asset-based lenders * Hostess solves utility company objects by agreeing to continue to pay them * Hostess says has agreed with health insurer that payments are in the budget * Hostess says union participation in wind-down should be finished in 4 mos * Hostess says agrees with asset-based lenders to a $10 million paydown on

Tuesday and subsequent pay-downs

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