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Court approves deal for Cengage US to emerge from Chapter 11 bankruptcy

The US Bankruptcy Court in Manhattan has approved the plan for educational publisher Cengage Learning to emerge from Chapter 11 bankruptcy, the equivalent of administration in Australia, reports Publishers Weekly. Under the plan for reorganisation, the company will cut its US$5.8 billion (A$6.3 billion) debt by over US$4 billion (A$4.4 billion)...

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Category: International news