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The modified second amended joint plan of reorganization of RDA Holding Company, The Reader's Digest Association Inc., and certain other affiliated debtors was confirmed on June 28 by the U.S. Bankruptcy Court for the Southern District of New York (In re RDA Holding Company, Bankr. S.D.N.Y., No. 13-22233 (RDD), plan confirmed 6/28/13).
In the aforementioned press release, the debtor's CEO, Robert E. Guth, said, “We are taking decisive actions that are placing our business on a stronger path for the long-term and making us a more relevant and more profitable [c]ompany. We have used the restructuring period to reset and refresh our [c]ompany and have reconsidered nearly every aspect of our business. We look forward to laying out our go-forward strategy in the weeks ahead.”
The debtors filed for Chapter 11 protection in the U.S. Bankruptcy Court for the Southern District of New York on Feb. 17, 2013 (25 BBLR 285, 2/28/13). They had emerged from a prior bankruptcy in 2010 (22 BBLR 258, 2/25/10).
The order confirming the plan is available at: http://www.bloomberglaw.com/public/document/RDA_Holding_Co_et_al_and_Direct_Entertainment_Media_Group_Inc_Doc
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