Content about Secured creditor

December 21, 2011

Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

NEW YORK — Borders Group Inc. won court approval of the final details of its plans to dissolve, according to Bloomberg.

The bankruptcy judge finalized terms of creditor repayments Tuesday after five remaining objections were resolved, the report said. Unsecured creditors with $812 million to $850 million in claims will recover from 4% to 10%, probably “at the higher end of the range,” according to court papers.