Court Approves Latham's Prepack Plan

Law360, New York (January 22, 2010, 3:41 PM EST) -- Swimming pool component manufacturer Latham International Inc. has received confirmation of its prepackaged reorganization plan from a Delaware bankruptcy court, the company confirmed Friday, putting it on the path to emerge from Chapter 11 within a few days.

The ruling by the U.S. Bankruptcy Court for the District of Delaware will allow Latham to implement the restructuring agreement it made with its senior secured lenders. When it emerges from bankruptcy, Latham will be owned by an entity controlled by a group of the company's former senior...
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