Toys ‘R’ Us property company plan unanimously OK’d by voting creditors

By Caroline Salls

Pittsburgh, Aug. 21 – The Chapter 11 plan filed by Toys “R” Us, Inc.’s property company debtors was unanimously accepted by voting creditors, according to a notice filed Monday with the U.S. Bankruptcy Court for the Eastern District of Virginia.

The property company debtors are Toys “R” Us, Property Co. II, LLC and Giraffe Junior Holdings, LLC.

The plan was accepted by the one holder of $507.13 million in mortgage loan secured claims against Propco II, the one holder of $31.04 million in general unsecured claims against Propco II and the one holder of Propco II interests.

In addition, the plan was accepted by the one holder of $1.00 in other priority claims against Giraffe Junior, all 11 holders of $88 million in Giraffe Junior mezzanine loan secured claims, all 11 holders of $11.00 in general unsecured claims against Giraffe Junior and the one holder of Giraffe Junior interests.

The plan confirmation hearing is scheduled for Aug. 22.

Toys ‘R’ Us is a Wayne, N.J., toy retailer. The company filed for bankruptcy on Sept. 19, 2017 under Chapter 11 case number 17-34665.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.