SP Newsprint Goes For Ch. 11 With Lenders' Cash Collateral
The Georgia-based company and its subsidiaries filed for bankruptcy on Tuesday, blaming weak economic conditions and rising costs for raw materials.
At the hearing, Richard Stieglitz of Cahill Gordon & Reindel LLP, an attorney for SP Newsprint, said the bankruptcy would work toward a “going-concern sale designed to maximize value,”...
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