Apollo Files Rival Restructuring Plan For Pliant

Law360, New York (July 10, 2009, 12:00 AM EDT) -- About a week after getting a judge's go-ahead, private equity fund Apollo Management has put forth a rival restructuring plan for bankrupt plastic film and packaging manufacturer Pliant Corp.

Apollo, Pliant's largest single creditor, filed a reorganization plan and disclosure statement Thursday in the U.S. Bankruptcy Court for the District of Delaware. In an accompanying motion, the private equity company asked the court to hold a hearing on its disclosure statement on July 24.

In June, Pliant requested an extension of its exclusive right to file...
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