Northwest Hardwoods Plans Speedy Trip Through Ch. 11
Law360 (November 24, 2020, 4:00 PM EST) -- Lumber producer Northwest Hardwoods Inc. told a Delaware judge Tuesday it plans a speedy trip through Chapter 11 and aims to emerge from bankruptcy early next year with roughly $270 million of its debt wiped out and most of its ownership stake handed over to lenders.
During a virtual hearing, U.S. Bankruptcy Judge Christopher S. Sontchi approved various "first day" motions, including ones that will enable Northwest Hardwoods to continue to pay its roughly 1,200 employees and use lender cash to fund operations as its Chapter 11 moves forward.
"This has been a fully consensual process," said Northwest Hardwoods attorney David...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!