Smolinsky Sees Similarities Between Reader's Digest, Kodak

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Mar. 19 (Bloomberg) -- Joseph Smolinsky, business finance and restructuring partner at Weil, Gotshal & Manges LLP, talks with Bloomberg Law's Spencer Mazyck about his representation of RDA Holding Co., publisher of Reader's Digest magazine, in its second Chapter 11 filing in less than four years. The publisher listed assets and debt of more than $1 billion each in Chapter 11 documents filed Feb. 17 in U.S. Bankruptcy Court in White Plains, New York. See more +
Mar. 19 (Bloomberg) -- Joseph Smolinsky, business finance and restructuring partner at Weil, Gotshal & Manges LLP, talks with Bloomberg Law's Spencer Mazyck about his representation of RDA Holding Co., publisher of Reader's Digest magazine, in its second Chapter 11 filing in less than four years. The publisher listed assets and debt of more than $1 billion each in Chapter 11 documents filed Feb. 17 in U.S. Bankruptcy Court in White Plains, New York.

Smolinsky, in this "Rainmakers" episode, also explains how bankruptcies of iconic brands Hostess Brands Inc., maker of Twinkies and Wonder Bread, and Eastman Kodak Co., inventor of Kodachrome film and Instamatic cameras, are comparable to Reader's Digest's bankruptcy.

(Source: Bloomberg) See less -

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Topics:  Chapter 11, Chapter 22, Great Recession, Internet, Media, Reader's Digest

Published In: Bankruptcy Updates

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