June 18, 2018 / 11:40 PM / 2 years ago

Toys 'R' Us reaches deal with creditors on bankruptcy terms

Toys ‘R’ Us reached a settlement on Friday with its lenders and creditors that is expected to head off potential legal disputes stemming from the liquidation of the largest U.S. toy chain.

Under the terms of the deal, Toys ‘R’ Us’ unsecured creditors, as well as a group of secured creditors known as the B-4 lenders and a group of vendors agreed to support the goal of confirming a Chapter 11 plan by Aug. 31, according to court documents.

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2I1Z5cn

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