Smurfit Ch. 11 Plan Prompts Fierce Objections

Law360, New York (March 30, 2010, 2:14 PM EDT) -- Bankrupt packaging company Smurfit-Stone Container Corp. is facing fierce opposition to the confirmation of its Chapter 11 plan, with numerous stakeholders, including Dow Chemical Co., the U.S. trustee and noteholders, blasting what they call the plan’s lack of evenness.

While the objections take issue with different elements of the Smurfit plan, from its treatment of individual claims to the allegedly overbroad release provisions, they unanimously urge Judge Brendan Linehan Shannon of the U.S. Bankruptcy Court for the District of Delaware to reject the plan.

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