Georgia-Pacific Cuts $38M Deal With Smurfit-Stone

Law360, New York (January 11, 2011, 5:40 PM EST) -- Paper company Georgia-Pacific LLC has struck a deal for a $38 million allowed unsecured claim in its suit challenging bankrupt Smurfit-Stone Container Enterprises Inc.'s rejection of a linerboard supply agreement.

Judge Brendan L. Shannon of the U.S. Bankruptcy Court for the District of Delaware signed off on an order Monday approving a stipulation which resolved the $174.5 million rejection damages claim Georgia-Pacific filed against the packaging maker in September 2009.

The claim was one of the biggest Smurfit-Stone debtors have had to deal with, court papers...
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