Packaging Maker Smurfit-Stone Files For Ch. 11

Law360, New York (January 26, 2009, 12:00 AM EST) -- Smurfit-Stone Container Corp., one of the largest packaging makers in the U.S., filed for bankruptcy on Monday, saying the economic downturn has caused a steep decline in demand for its products.

In its filing in the U.S. Bankruptcy Court for the District of Delaware, Smurfit-Stone listed assets of $7.45 billion and debts of $5.58 billion.

“The recent downturn in the global economy has resulted in an unprecedented decline in demand for the company's products, leading to increased inventory levels and downward pressure on the company's operating...
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