Spanish Broadcasting System To File For Chapter 11 Bankruptcy

SBS Restructuring To Include Chapter 11

• Spanish Broadcasting System (SBS) announced that on April 3, it entered into a restructuring Support Agreement (RSA) with certain funds and accounts managed by Brigade Capital Management LP, subsidiaries of Man Group plc, and Bayside Capital LLC. To implement these restructuring transactions, SBS “intends to commence voluntary Chapter 11 cases under the Bankruptcy Code in the United States Bankruptcy Court for the District of Delaware,” adding…

SBS Readies A Chapter 11 Bankruptcy Filing

Spanish Broadcasting System — the company founded in 1983 by Raúl Alarcón Jr. — has moved forward with a restructuring support agreement that sees it intend “to commence voluntary Chapter 11 cases” under U.S. bankruptcy code in a Delaware court. According to documents posted to the SBS corporate website late Wednesday (4/8), the voluntary Chapter 11 filing will not impact operations, as Miami-headquartered SBS intends to continue employee wages …

Spanish Broadcasting System To File For Chapter 11 Bankruptcy

Spanish Broadcasting System announced it intends to voluntarily file for Chapter 11 bankruptcy protection in the US Bankruptcy Court for the District of Delaware after reaching a Restructuring Support Agreement with a majority of debtholders.