Milwaukee YMCA Plan Confirmed – 90% Recoveries for Unsecured Creditors
Posted by Matthew E. McClintock
30 Jan, 2015
G&M News & Developments
Bankruptcy & Restructuring
The United States Bankruptcy Court for the Eastern District of Wisconsin entered an order confirming (approving) the second amended plan of reorganization filed by the Young Men’s Christian Association of Metropolitan Milwaukee, Inc. (the Milwaukee YMCA) and its sister company, the YMCA Youth Leadership Academy, Inc. G&M served as lead counsel to the Official Committee of Unsecured Creditors in the Milwaukee YMCA case, and as a result of G&M’s efforts, the approved plan provides that unsecured creditors will be paid 90% of their claim amounts – an extremely favorable outcome under the circumstances.