Smurfit Creditors OK Ch. 11 Reorganization

Law360, New York (April 14, 2010, 7:15 PM EDT) -- Smurfit-Stone Container Corp. said on Wednesday that it received sufficient votes from its creditors to confirm its Chapter 11 reorganization, following objections from stakeholders including the U.S. trustee and noteholders to the packaging company's plan.

The unsecured creditors committee for Smurfit-Stone filed its motion in support of the plan's confirmation on Tuesday in the U.S. Bankruptcy Court for the District of Delaware.

Smurfit-Stone said on Wednesday that it has “received overwhelming support from its voting creditor constituencies” that “meets confirmation standards under the Bankruptcy Code.”...
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