Grant Follows Canadian Parent Into Bankruptcy

Law360, New York (April 1, 2010, 3:50 PM EDT) -- Paper and packaging firm Grant U.S. Holdings GP filed for Chapter 15 protection Thursday, just one day after its bankrupt Canadian parent was given the green light to sell its wood products facilities to paper products manufacturer Georgia-Pacific Corp. for $400 million.

According to its petition in the U.S. Bankruptcy Court for the District of Delaware, Grant U.S. Holdings — a unit of Canada's Grant Forest Products Inc. — has estimated assets and liabilities in the range of $500 million to $1 billion and as many...
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