Pliant Plan Hearing Delayed At Creditors' Behest

Law360, New York (May 14, 2009, 12:00 AM EDT) -- The judge overseeing the Pliant Corp. bankruptcy has delayed a hearing to approve the plastic film and packaging maker's disclosure statement for a Chapter 11 plan that unsecured creditors contend shortchanges most of the debtors' stakeholders compared to an alternate plan.

On Wednesday, Judge Mary F. Walrath of the U.S. Bankruptcy Court for the District of Delaware granted the committee of unsecured creditors' motion to adjourn the hearing to approve the disclosure statement for Pliant's first amended joint plan of reorganization.

Pliant had asked for a...
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