Wednesday, February 26, 2020

MGM SUBMITS “PRE-PACKAGED” BANKRUPTCY

November 3, 2010 by · Leave a Comment 

MGM finally filed its “pre-packaged” bankruptcy plan today (Friday), following years of struggle to lift itself out from under a debt load that it occurred when its owners acquired it from investor Kirk Kerkorian in a $5-billion leveraged buyout in 2005. The filing came days after MGM creditors agreed to swap debt for equity and […]