Constar Gets Green Light For Ch. 11 Plan
U.S. Bankruptcy Judge Christopher S. Sontchi confirmed the plan, which will deleverage Constar’s balance sheet by swapping new stock and debt for the $220 million of floating rate notes that comprise 95 percent of the debtors’ capital structure.
Philadelphia-based Constar filed for bankruptcy in January, with its plan in hand, listing $418 million in assets and about $414...
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