Judge Denies Bid by Loews’ Creditors
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A Manhattan bankruptcy judge rejected a bid by unhappy creditors of Loews Cineplex Entertainment Corp. to end the movie theater operator’s exclusive right to file a bankruptcy reorganization plan.
Judge Allan Gropper of the Southern District of New York granted New York-based Loews Cineplex, Canadian conglomerate Onex Corp. and Los Angeles-based investment firm Oaktree Capital Management a 120-day extension, to Oct. 13, 2001, to file its plan.
Shares of Loews Cineplex closed down 3 cents to 14 cents in over-the-counter trading.
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