Judge OKs Constar Statement, Rebuffs Bidder

Law360, New York (February 22, 2011, 7:22 PM EST) -- A bankruptcy judge on Tuesday approved the disclosure statement attached to Constar International Inc.’s prepackaged reorganization plan, overruling an objection by a competitor that came to the table with a late bid for the plastic bottle maker.

Plastic Pack Holdings wanted the disclosure statement amended to reflect its recent $130 million offer for Constar so that creditors could weigh the offer as an alternative to the plan, Mark Taub of Neiger LLP, an attorney for the Plastic Pack, said at a hearing in the U.S. Bankruptcy...
To view the full article, register now.