Smurfit Clears Ch. 11 Disclosure Statement Hurdles

By Christie Smythe

Law360, New York (January 29, 2010, 6:32 PM ET) -- Following efforts to smooth over a raft of creditor objections, bankrupt packaging company Smurfit-Stone Container Corp. has won court approval of a disclosure statement for its reorganization plan, inching the company toward an exit from Chapter 11.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware on Friday authorized the Smurfit-Stone to begin soliciting votes on its reorganization plan.

While the disclosure statement and underlying plan had drawn numerous objections from a variety of creditors and other stakeholders earlier in January,...
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