Bondholders Seek Fast Track In Pacific Lumber Case

Law360, New York (February 6, 2007, 12:00 AM EST) -- California logger Pacific Lumber Co. faced a new challenge in its Chapter 11 case Tuesday when a group of bondholders of one of the company’s subsidiaries asked the court to split the unit from the rest of the case.

The group representing noteholders of the Palco subsidiary Scotia Pacific Co. LLC asked the U.S. Bankruptcy Court for the Southern District of Texas to recognize it as a single asset real estate debtor and therefore put it on the fast track through bankruptcy proceedings.

The noteholders also...
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