Smurfit-Stone Sued Over Defunct $15M Property Deal

Law360, New York (June 2, 2009, 12:00 AM EDT) -- Georgia-Pacific Corrugated LLC and GNN Investor LLC have filed an adversary suit against Smurfit-Stone Container Enterprises Inc., alleging that the bankrupt packaging company breached a property agreement and owes them $1 million.

Georgia-Pacific asked the U.S. Bankruptcy Court for the District of Delaware on Monday to find that the defendant had breached a property agreement that the parties hammered out in July 2008.

The source of the spat dates back to summer 2008, when Smurfit-Stone, the operating company of Smurfit-Stone Container Corp., purportedly agreed to buy...
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