PT Holdings Set To Emerge From Ch. 11

Law360, New York (August 15, 2007, 12:00 AM EDT) -- A federal court in Seattle has signed off on PT Holdings Inc.'s plan of reorganization, clearing the way for the company and subsidiaries Port Townsend Paper Corp. and PTPC Packaging Co. Inc. to emerge from Chapter 11 after about seven months in bankruptcy protection.

U.S. Bankruptcy Judge Samuel J. Steiner on Tuesday entered an order confirming the debtors' Chapter 11 plan, which the company said received overwhelming creditor support, and would provide for the payment of creditor claims, liens and contract cures within 5 days of...
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