Werner Set To Emerge From Chapter 11

Law360, New York (June 13, 2007, 12:00 AM EDT) -- Bankrupt Werner Company announced Monday that it had completed the sale of substantially all of its assets for about $265 million, a development that should allow the ladder maker to emerge from Chapter 11 protection.

The sale means that Werner is now owned by a group of investors that includes Black Diamond Capital Management LLC, Brencourt Advisors LLC, Levine Leichtman Capital Partners III LP, Milk Street Investors LLC, Schultze Asset Management LLC, and TCW Shared Opportunity Funds.

"We are very pleased that this transaction has closed...
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