Muzak reorganization plan unanimously approved by voting creditors

By Caroline Salls

Pittsburgh, Jan. 11 - Muzak Holdings LLC's plan of reorganization was unanimously approved by voting creditors, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

Specifically, the plan was accepted by all 42 holders of $199.4 million of senior notes claims, all 20 holders of $110.15 million of senior subordinated notes claims and all 14 holders of $9.01 million of discount notes claims.

The plan confirmation hearing is scheduled for Jan. 12.

Muzak, a Fort Mill, S.C.-based recorded music company, filed for bankruptcy on Feb. 10, 2009. Its Chapter 11 case number is 09-10422.

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