NewPage Creditors Disagree On How To Break Ch. 11 Deadlock

Law360, Wilmington (June 18, 2012, 4:56 PM EDT) -- NewPage Corp.’s reorganization effort was assailed from all sides Friday, with two warring creditor factions floating different ideas to push the struggling paper company’s bankruptcy forward.

Without a reorganization plan on file after nine months, NewPage’s unsecured creditors are clamoring for a mediator to referee plan negotiations, while a trustee for secured lenders wants to open the door to competing plans to break the impasse, according to objections filed in Delaware bankruptcy court.

The official committee of unsecured creditors argued in its objection that NewPage was...
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