Infrastructure management software supplier Peregrine
Systems has reached consensus on a reorganisation plan with its
creditors and shareholders.
The agreement paves the way for the company to emerge from
bankruptcy in August.
Under the plan, Peregrine's bondholders would receive 63% of the
stock, and 33% would be shared by existing stockholders and
others.
The remaining 4% of the stock would be allocated between the two
groups based on a resolution of some unliquidated claims.
The plan is yet to be approved.
Peregrine filed for bankruptcy on 22 September as a result of
accounting regularities.
Linda Rosencrance writes for Computerworld
