Paper Envelope Purveyor NEC Sent To Ch. 11

Law360, New York (June 10, 2010, 6:51 PM EDT) -- NEC Holdings Corp., the largest privately held envelope manufacturer in the U.S., filed for Chapter 11 bankruptcy protection Thursday, blaming its dip in profits on the abandonment of traditional print communications.

In a petition filed Thursday in the U.S. Bankruptcy Court for the District of Delaware, NEC said it had $100 million to $500 million in both assets and liabilities.

The company, founded in New York in 1952 by Holocaust survivor William Ungar, said it is the largest privately held envelope manufacturer in the country, offering...
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.