It is reported that the bankruptcy should move rather quickly and some call the plan “prepackaged”. Essentially, MGM lenders will swap $4 billion in debt for stock in a new company that is valued at $2 billion.
Billionaire, Carl Icahn, was involved in the pre-filing proceedings. At first, he backed the studio’s rival, by Lions Gate Entertainment Corp. Last week, he started to support Spyglass and threw his weight into the bankruptcy plan.
If you are thinking about filing for bankruptcy in San Antonio, contact the Malaise Law Firm to work with a skilled San Antonio bankruptcy attorney who can advise you of your options and help you move forward with your plans.