LBI Media – Second Lien Noteholders Object to Plan, Accuse Debtors and First Lien Holder of “Cooked” Plan, Fraudulent Conveyance

March 18, 2019 – Certain holders (the “Noteholders”) of the Debtors' 11½%/13½% PIK Toggle Second Priority Secured Subordinated Notes due 2020, Series II (the “Second Lien Notes”) objected [Docket No. 690] to the Debtors' modified second amended joint Chapter 11 Plan of reorganization [Docket No. 621]. The Noteholders accuse the Debtors and the Debtors' first…