Creditors back American LaFrance plan of reorganization

American LaFrance, a leading manufacturer of fire truck and vocational vehicles, announced that creditors voted overwhelmingly in favor of the Company’s Plan of Reorganization (“the Plan”). 

More than 86 percent of the General Unsecured creditors, Class 4, voted in favor of the Plan. In addition, 100 percent of the Convenience class, Class 5, approved the plan as did all of the Secured Lenders, Class 1. Paving the way for the Company’s rapid emergence from bankruptcy, the bankruptcy court will review the votes and final plan at the Confirmation Hearing scheduled for May 22.

“Based on broad and deep creditor support, we are optimistic that the Court will approve the plan,” says William Snyder, chief restructuring officer of American LaFrance. “The Official Committee of Unsecured Creditors for the Plan played a primary role in rallying support for the Plan among creditors across all classes,” adds Snyder.

American LaFrance, through its predecessor entities, is one of the oldest fire, rescue and EMS vehicle manufacturers in the United States, dating back to its founding in 1832.