Panolam Files For Prepackaged Bankruptcy

Law360, New York (November 4, 2009, 6:27 PM EST) -- Panolam Industries Inc., a maker of laminates used for indoor surfacing, has filed for a prepackaged bankruptcy about a month after it announced that it would restructure.

In Chapter 11 documents filed Wednesday in the U.S. Bankruptcy Court for the District of Delaware, Panolam said it had both assets and liabilities of between $100 million and $500 million.

“The company does not anticipate any delays in obtaining bankruptcy court approval since the plan is prepackaged and expects that the plan will be confirmed by the bankruptcy...
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