The Reader’s Digest Association, Inc. (“Readers Digest”) has requested authority to file a consolidated list of the 30 largest unsecured creditors for itself and its 47 affiliated Debtors (the “Top Unsecured Creditor List”) in lieu of a separate list for each of the debtors. None of the trade claims were listed as unliquidated or disputed, and only the trade claim of TI Circulation Holdings LLC was listed as contingent.
Readers Digest Bankruptcy
Posts discussing the supplier, unsecured trade creditor and other bankruptcy creditor aspects of the Readers Digest bankruptcy
Readers Digest Bankruptcy – Debtors and Petitions
The Reader’s Digest Association, Inc. and 47 affiliated entities (”Debtors”) filed petitions on August 24, 2009 in Bankruptcy Court for the Southern District of New York for relief under Chapter 11 of Title 11 of the United States Code. The Debtors hold an aggregate of approximately $2.2 billion in assets and approximately $3.4 billion in liabilities as indicated in their most recent unaudited financial statements as of June 30, 2009. The Debtors estimate that they have approximately 1,400 vendors on a consolidated basis with outstanding pre-petition claims in the amount of approximately $90 million. The US bankruptcy proceedings are being consolidated for administrative purposes only under the The Reader’s Digest Association, Inc. case number 09-23529. The following is a listing of the Debtors and petition numbers.