Regent, Resilient Resolve Conflict With Settlement
April 21, 2010 at 4:31 AM (PT)
REGENT COMMUNICATIONS has filed an emergency motion with U.S. Bankruptcy Court asking the court to approve a settlement the company has reached with shareholder RESILIENT CAPITAL MANAGEMENT over RESILIENT's objections to its reorganization plan.
Under the settlement, REGENT will cover $125,000 in RESILIENT's attorney's fees in exchange for RESILIENT dropping its objections to the reorganization plan. The settlement ends RESILIENT's bid to delay the effective date of REGENT's plan.