Pacific Lumber, BoNY Square Off Over Plan

Law360, New York (October 16, 2007, 12:00 AM EDT) -- Though Pacific Lumber Co. recently filed its reorganization plan, the company's emergence from Chapter 11 protection is shaping up to be an uphill battle, with the logging company's indenture trustee, Bank of New York Trust Co. NA, as its main opponent.

On Monday, Bank of New York filed its comments on Pacific Lumber's joint plan of reorganization, offering a scathing critique of the plan and claiming that the plan “should not and will not” be confirmed.

The document, filed in the U.S. Bankruptcy Court for the...
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