International Aluminum Ready To Leave Ch. 11

Law360, New York (May 4, 2010, 3:32 PM EDT) -- International Aluminum Corp. has won approval for its plan of reorganization over objections from its unsecured creditors, clearing the way for the company to emerge from bankruptcy.

Judge Mary F. Walrath signed off on the plan Friday in the U.S. Bankruptcy Court for the District of Delaware. The aluminum and vinyl producer's secured debt will be satisfied through a combination of new equity, new term notes and a cash payment to senior lenders, it said.

Trade vendors and suppliers will receive full payment of all prebankruptcy...
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