Quiksilver Inc. received bankruptcy-court approval Thursday to continue on its preferred path with private equity firm Oaktree Capital Management sponsoring the surf-retailer's restructuring, Dow Jones Daily Bankruptcy Review reported today. The ruling from Bankruptcy Judge Brendan Shannon comes at the end of a two-day hearing on the matter, during which the committee representing unsecured creditors opposed the surfwear retailer's proposed restructuring path and brought to the table fresh bankruptcy financing from Brigade Capital Management. However, Judge Shannon's approval of the Oaktree bankruptcy financing and plan support agreement executed with Oaktree came with some significant changes, made in an effort to create a better opportunity to find another, better deal.
