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Technology Stocks : Zenith - One and Only

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To: Robert Utne who wrote (6412)	11/3/1999 2:12:00 PM
From: FESHBACH_DISCIPLE	Read Replies (1) of 6570

November 3, 1999 By the way how much did the judge care? Been there seen this act before. Dow Jones Newswires Zenith Elec Says Bankruptcy Court To Clear Reorg Plan GLENVIEW, Ill. -- Zenith Electronics Corp. (ZETHQ) said its prepackaged reorganization plan will be approved by the U.S. Bankruptcy Court but will be subject to some technical modifications. In a press release Wednesday, the consumer electronics company said the modifications "apply to releases in favor of third parties," and don't affect any distributions to creditors or other provisions of the plan. Zenith also said it expects to emerge from Chapter 11 shortly. As reported, Zenith's Chapter 11 petition, filed Aug. 23, listed $311 million in assets and $732 million in liabilities. Under the company's plan, reported Sept. 29, all outstanding stock will be canceled, and stockholders, including LG Electronics Inc. - Zenith's majority shareholder and a major creditor in the case - will receive nothing for their existing equity stakes. LGE and its affiliates acquired a controlling interest in Zenith shares in Nov. 1995.

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