Yellow Media debentureholders ask court to revoke plan-related order

By Caroline Salls

Pittsburgh, Aug. 15 - An informal committee of holders of Yellow Media Inc.'s 6.25% convertible unsecured subordinated debentures has asked the Superior Court of Quebec to revoke a July 23 interim order tied to the company's proposed plan of arrangement, according to a committee news release.

In the motion, the committee said it vigorously challenged the process by which the plan of arrangement was conceived and proposed, the "inappropriate and inequitable treatment" of convertible debentureholders and the fact that they have not been placed in a separate voting class.

The members of the committee said they intend to register their votes against the proposed plan.

In addition, the committee repeated its request that the company withdraw the plan and "engage with all stakeholders in a fair and transparent consultative process."

The media and marketing company is based in Montreal.

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