Newark Group Files Prepack, Aims To Emerge In July

Law360, New York (June 11, 2010, 4:22 PM EDT) -- Hit hard by rising costs and slowing demand as a result of the broad economic turmoil, recycled paperboard producer The Newark Group Inc. has filed a prepackaged Chapter 11 plan designed to cut more than $200 million of the company's debt.

In documents filed with the U.S. Bankruptcy Court for the District of New Jersey, the company said the plan would also reduce the company's annual cash interest costs by about $13 million. The prepackaged plan would also leave all general unsecured claims unimpaired and convert...
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