Pool Maker Latham Dives Into Prepack Ch. 11

Law360, New York (December 22, 2009, 2:53 PM EST) -- Swimming pool component and accessory manufacturer Latham International Inc. and its affiliates filed a prepackaged bankruptcy petition on Tuesday to allow its lenders to acquire the company's assets, citing a decreased demand for its products brought on by the recession.

The company filed its petition in the U.S. Bankruptcy Court for the District of Delaware, along with a proposed plan for an agent of its lenders to form three new companies and take over Latham's operations through a debt-for equity exchange.

The plan also provides for...
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