Metro-Goldwyn-Mayer Inc. (“MGM”) announced that the U.S. Bankruptcy Court for the Southern District of New York approved all of MGM’s motions that were heard today, including finding that modifications to its “pre-packaged” plan of reorganization are immaterial and accordingly authorizing the plan to be amended. Once amended, the plan will be deemed accepted by MGM’s creditors. Other motions approved were the commitment fee motion, the break-up fee motion, the Ernst &Young LLP retention application, the space reduction motion and final approval of the cash management motion. Approval of these motions will help pave the way for MGM to confirm its plan, which received overwhelming approval by its secured lenders on October 29.
Subscribe to Deadline Breaking News Alerts and keep your inbox happy.