Constar Gets Final OK For Debt Swap, DIP Financing

Law360, New York (January 21, 2009, 12:00 AM EST) -- A federal bankruptcy judge on Tuesday gave final approval to both a debt-for-equity swap designed to save bankrupt plastic bottle maker Constar International Inc. $175 million as part of a prearranged restructuring plan, and to $75 million in debtor-in-possession financing.

Judge Peter J. Walsh of the U.S. Bankruptcy Court for the District of Delaware issued the final approval order amid a batch of other approvals. Judge Walsh also approved the appointment of Bayard PA and WilmerHale LLP as bankruptcy counsel to Constar as well as an...
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