Peregrine, Creditors Agree on Restructuring

Peregrine Systems Inc., a San Diego maker of business management software, said it reached agreement with creditors on a reorganization plan, putting the company closer to exiting bankruptcy protection next month.

U.S. Bankruptcy Judge Judith Fitzgerald in Pittsburgh said she probably would approve the plan by July 21. Peregrine said it planned to exit bankruptcy protection with about $70 million in debt.

Shares of Peregrine, which traded above $79 in March 2000, fell 13 cents to 57 cents in over-the-counter trading.