SP Newsprint's Lenders Form $145M Stalking Horse

Law360, Wilmington (July 20, 2012, 10:21 PM EDT) -- Bankrupt SP Newsprint Holdings LLC asked a Delaware court Thursday to approve a stalking horse credit bid from its prepetition lenders that would sell its assets for about $145 million and assume its more than $28 million in contract liabilities.

SP Newsprint filed for bankruptcy in November blaming weak economic conditions and rising costs for raw materials. The Georgia-based company has been marketing its assets — primarily a pair of recycled-newsprint mills — since entering Chapter 11 and said the only parties to date willing to...
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