Tube Maker RathGibson Files Prepackaged Ch. 11

Law360, New York (July 13, 2009, 12:00 AM EDT) -- Steel tube maker RathGibson Inc. has filed for bankruptcy protection, hoping a prepackaged plan of reorganization will reduce its debt burden and quickly guide it through Chapter 11.

The company, which filed for bankruptcy Monday in the U.S. Bankruptcy Court for the District of Delaware, said that the proposed reorganization plan has the unanimous support of the company’s prepetition secured lender, the management of the company and certain key noteholders.

The proposed plan calls for those holding allowed general unsecured claims to be paid in full...
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