Marcal Paper Files 3rd Amended Ch. 11 Plan

Law360, New York (October 28, 2008, 12:00 AM EDT) -- Marcal Paper Mill Inc. has filed a third amended Chapter 11 plan and disclosure statement creating a liquidating trust for the $121 million it netted from selling its assets to stalking horse bidder NexBank SSB.

The bankrupt paper towel maker filed the statement and plan Monday in the U.S. Bankruptcy Court for the District of New Jersey.

Marcal filed for bankruptcy in November 2006, citing increased costs of natural gas, electricity and steam. The privately held, family-owned company had more than $165 million in assets and...
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