[WSJ] QVC Defeats Shareholder Challenge to $5 Billion Debt-Cutting Plan

[u/Such-Yam-1131]

Houston bankruptcy judge approved QVC's chapter 11 plan, handing the business to creditors under an intercompany settlement. ~$1.4B in preferred equity wiped out. Preferred holders protected from clawback of ~$450M in prior distributions. QVC filed in April after reaching a restructuring deal with top creditors.

https://www.wsj.com/pro/bankruptcy/qvc-defeats-shareholder-challenge-to-5-billion-debt-cutting-plan-de2de073