Bankruptcy Judge Brendan Shannon yesterday approved Sorenson Communications Inc.'s restructuring proposal, which a company lawyer said was supported by 100 percent of the creditors that voted on it, Dow Jones Daily Bankruptcy Review reported today. The company's pre-packaged bankruptcy plan was hashed out with creditors before the company filed for chapter 11. The restructuring stretches out the term of Sorenson's funded debt while transforming $735 million in senior secured notes into an 87 percent ownership stake in the company, cash and new notes.
