MUSIKAHN CORP FILES FOR REORGANIZATION
<Musikahn Corp> said it filed a
reorganization plan with the U.S. Bankruptcy Court for itself
and its subsidiary, Jack Kahn Music Co.
    The company said both entities have been operating as
debtors in Chapter 11 since Oct 22, 1985.
    The plan provides for payment in full of administration
expenses and priority claims, and secured claims, the companies
said. In addition, priority claims of governmental units will
be paid in full over a period of six years.
    The companies said unsecured creditors will receive up to
25 pct of their claims.
 Reuter
