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Bally Total Fitness Holding Corporation
Bally Total Fitness Announces Interim Chapter 11 Plan Distribution to Former Stockholders
April 19th, 2008
Bally Total Fitness Holding Corporation ("Bally") announced that it has commenced the process to make an initial cash distribution to former stockholders, in accordance with the terms of Bally's confirmed chapter 11 plan (the "Plan"). The initial cash distribution is $.31 per share of Old Common Stock (as defined in the Plan). Approximately $3.5 million has been reserved by Bally's disbursing agent, pending disallowance of certain outstanding claims that were filed in Bally's chapter 11 case. These reserved funds may fund a second distribution to holders of Old Common Stock, but such a distribution is subject to satisfactory resolution of the outstanding claims. ...
Source: Law & Health Weekly (2008-04-19)
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