A toll road that runs across northern Indiana exited bankruptcy protection and is now be operated by Australia's IFM Investors, Dow Jones Daily Bankruptcy Review reported today. IFM Investors paid $5.725 billion to operate the 157-mile road between the Ohio Turnpike and Chicago Skyway for the next 66 years. The deal closed on Wednesday, according to a filing in U.S. Bankruptcy Court in Chicago. The 59-year-old toll road filed for bankruptcy last September after struggling for years with a heavy debt load and lower-than-expected traffic. A bankruptcy judge in October approved the chapter 11 plan ITR Concession Co., the operator of the road.
