Pacific Lumber Plan Filed As Judge Mulls Settlement

Law360, New York (May 15, 2008, 12:00 AM EDT) -- A day before a hearing on the proposed global settlement in the Pacific Lumber Co. case, Mendocino Redwood Co. and Marathon have formally submitted their reorganization plan for the bankrupt logging company after winning the backing of a number of key supporters.

On Wednesday, MRC/Marathon filed its first amended joint plan of reorganization for the debtors, flanked by the official committee of unsecured creditors and counting numerous federal officials and environmentalists among its supporters.

The official move was anticipated in the wake of Pacific Lumber and...
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