NewPage Seeks More Time For Ch. 11 Plan Amid Creditor Row

Law360, Wilmington (May 3, 2012, 6:16 PM EDT) -- NewPage Corp. asked a Delaware bankruptcy judge Thursday to extend its exclusive window for filing a Chapter 11 plan, saying it was caught between creditor factions with “diametrically opposed” visions for how to reorganize the struggling paper company.

Mired in bankruptcy since September and working to ease a $4.2 billion debt burden, NewPage requested an additional 120 days to file a plan in the motion.

The company said its first-lien lenders favored a plan that would lead to a swift bankruptcy exit, while second-lien lenders backed...
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