Seat Pagine Gialle creditors approve composition; hearing Sept. 26

By Caroline Salls

Pittsburgh, Aug. 1 – Seat Pagine Gialle SpA and Seat Pagine Gialle Italia SpA’s composition proposals were approved by creditors, according to a news release.

The company said a creditors’ meeting was held on July 10.

Seat Pagine Gialle’s proposal was approved by 99.79% of voting creditors representing a total of €1,535,023,658 of company debt.

Meanwhile, Seat Pagine Gialle Italia’s proposal was approved by 99.51% of voters, representing €1,551,152,404 of debt.

According to the release, voting creditors were divided into three classes, with class B consisting of creditors party to term and revolving facilities, class C consisting of senior secured bond creditors and class D consisting of remaining unsecured receivables creditors.

A hearing on court approval of the compromise will be held in the Court of Turin on Sept. 26.

Seat Pagine Gialle is a yellow pages company based in Torino, Italy.

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