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.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.