Bankruptcy Update: Goody's, Pacific Lumber, Wild West and more

Here are some of the latest bankruptcy stories our reporters have been covering Tuesday morning on TheDeal.com. For more check out the bankruptcy channel on TheDeal.com or visit Bankruptcy Insider.

Canadian judge OKs plan
A Canadian judge approved the Pan-Canadian Investors Committee for Third-Party Structured Asset-Backed Commercial Paper restructuring plan, however some companies are already planning to fight the decision. Although no official appeals have yet been filed, there are up to 10 companies planning to fight the approval of the plan. The companies that are planning to appeal are owed between $1 million and $50 million. - Jamie Mason

Goody's files for Ch. 11
Clothing store retailer Goody's Family Clothing Inc. filed for bankruptcy protection and has taken a $210 million debtor-in-possession loan off the rack to fund its Chapter 11 case. - Jamie Mason

Marathon-Mendocino plan confirmed
After weeks of contested confirmation hearings in the Pacific Lumber Co. bankruptcy, a reorganization plan led by hedge fund Marathon Structured Finance Fund LP has been confirmed. Marathon and Mendocino Redwood Co. LLC, a lumber distributor owned by Gap Inc. founder Donald Fisher, will pay at least $580 million cash for the 210,000 acres of timberlands owned by Palco affiliate Scotia Pacific Co. LLC. - John Blakeley

Wild West may be back in play
After a deal to get its stagnant amusement park up and running again collapsed, Wild West World LLC is looking to lock up an alternate deal and may be preparing for an auction between at least three prospective buyers. - Ben Fidler

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