Dayton Ch. 11 Plan Aims For Long-Term Stability

Law360, New York (July 24, 2009, 3:59 PM EDT) -- Commercial construction materials supplier Dayton Superior Corp. has moved a step closer to exiting bankruptcy, filing a disclosure statement and plan of reorganization that includes the conversion of around $161 million of certain senior subordinated notes to equity.

Dayton filed its Chapter 11 plan and disclosure statement Thursday in the U.S. Bankruptcy Court for the District of Delaware, where the company's bankruptcy proceedings have been pending since April.

Under the plan, approximately $161 million of the company’s 13 percent senior subordinated notes due in 2009 would...
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