Court OKs Amtrol Reorganization Plan

Law360, New York (May 25, 2007, 12:00 AM EDT) -- A bankruptcy court has approved Amtrol Holdings Inc.’s Chapter 11 plan of reorganization, paving the way for the water storage company to emerge from bankruptcy.

At a hearing on Thursday, Judge Kevin Gross of the U.S. Bankruptcy Court for the District of Delaware approved Amtrol’s first amended joint Chapter 11 plan, proposed by the company and its unsecured creditors in April. All holders of Amtrol’s senior subordinated notes voted for approval of the plan, the company said.

Ninety-eight percent of the noteholders, led by Newport Global...
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