NewPage Cleared To Send Ch. 11 Plan To Creditors For Vote

Law360, Wilmington (November 6, 2012, 8:37 PM EST) -- NewPage Corp. on Tuesday won Delaware bankruptcy court approval for the disclosure statement detailing its reorganization plan, allowing the struggling paper company to submit the plan to creditors for a vote.

At a court hearing in Wilmington, Del., U.S. Bankruptcy Judge Kevin Gross said he would sign off on the disclosures once they are submitted with minor language changes requested by creditors. 

The plan — which hands 100 percent of the equity in the reorganized company to senior noteholders owed $1.7 billion — will preserve all...
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