York. The private-equity deal tripled the association's interest payments, to $148 million a year.

On August 24, 2009, RDA announced it had filed with the US Bankruptcy court an arranged Chapter 11 bankruptcy to continue operations, and to restructure the US$2.2 billion debt undertaken by the leveraged buyout transaction. The company emerged from bankruptcy with the lenders exchanging debt for equity, and Ripplewood's entire equity investment was extinguished.

In April 2010, the UK

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