Marcal Buyers To Give Staples Credits In Ch. 11 Deal

Law360, New York (March 13, 2009, 12:00 AM EDT) -- Purchasers of assets from Marcal Paper Mills Inc. will have to provide certain credits to retailer Staples, the Office Superstore LLC under the conditions of an agreement filed in Marcal's bankruptcy case, settling a lingering objection to the paper company’s restructuring effort.

Judge Morris Stern filed an order Friday in the U.S. Bankruptcy Court for the District of New Jersey approving the resolution of Staples’ objection to an asset sale proposal, which was authorized by the court in January 2008.

In that proposal, Marcal agreed to...
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