The company which operates the Indiana Toll Road has exited Chapter 11, but will continue to look for a buyer for the lease.
A Chicago bankruptcy judge gave final approval to I-T-R Concession Company‘s prepackaged bankruptcy. The reorganization gives the company 10 months to find a buyer. The Spanish-Australian consortium is eight years into a 75-year lease of the road.
The company would restructure its debt or line up new financing if it can‘t sell the lease.