Harbinger no longer a Bally Total Fitness shareholder

By Lisa Kerner

Charlotte, N.C., Dec. 19 - Bally Total Fitness Holding Corp. investors led by Harbinger Capital Partners Master Fund I, Ltd. sold all of their shares in Bally on Dec. 14.

As a result, the reporting persons no longer beneficially own 5% or more of the shares of Bally, according to a schedule 13D filing with the Securities and Exchange Commission.

It was previously reported that Bally emerged from Chapter 11 bankruptcy after its plan of reorganization funded by Harbinger Capital Partners Master Fund I and Harbinger Capital Partners Special Situations Fund LP took effect on Oct. 1.

Harbinger invested $233.6 million in exchange for 100% of the common equity of reorganized Bally, according to a prior company news release.

Bally, a Chicago-based fitness center operator, filed for bankruptcy on July 31 in the U.S. Bankruptcy Court for the Southern District of New York.

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