Natural Products Ch. 11 Plan Will Slash 80% Of Debt

Law360, New York (February 24, 2010, 1:41 PM EST) -- A bankruptcy judge has paved the way for Natural Products Group LLC to wrap up its remarkably short stay in Chapter 11, giving his stamp of approval to a prepackaged reorganization plan that includes a debt-for-equity swap aimed at slashing the botanical skin care products maker's debt by about 80 percent.

In an order Monday, Judge Brendan Shannon of the U.S. Bankruptcy Court for the District of Delaware signed off on the company's prearranged reorganization proposal, saying a “clear preponderance of evidence” showed that the plan...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.