Building Materials Enters Ch. 11 In Push To Go Private

Law360, New York (June 16, 2009, 12:00 AM EDT) -- Construction materials giant Building Materials Holding Corp. has filed for Chapter 11 bankruptcy protection as part of a prepackaged restructuring plan in which the company hopes to take itself private by converting the secured debt holdings of some of its lenders into equity stakes.

The Boise, Idaho-based company and 11 of its affiliates filed petitions on Tuesday in the U.S. Bankruptcy Court for the District of Delaware, listing total assets of about $480.1 million and total debts of about $481.3 million.

The company, which does business...
To view the full article, register now.