Dallas-based Reddy Ice expects to emerge from bankruptcy protection this month with a lighter debt load and a cash infusion from Centerbridge Capital Partners, the Dallas Morning News reported on Saturday. Reddy Ice Holdings Inc. and its subsidiary Reddy Ice Corp. filed for bankruptcy protection in April. The parent company on Saturday that a bankruptcy judge has confirmed its reorganization plan under which debt will be reduced by about $145 million, interest expense will be cut by about $20 million annually and it will get an equity infusion of about $25 million. That includes a $7.5 million preferred stock investment from Centerbridge. In connection with the plan, the court approved settlement agreements in legal cases stemming from a U.S Justice Department probe of the packaged ice industry.
