Eyeing Asset Sale, Marcal Amends Plan

Law360, New York (January 11, 2008, 12:00 AM EST) -- Marcal Paper Mills Inc. has filed a second amended reorganization plan which takes into account the company's plan to sell substantially all of its assets to NexBank SSB for a total consideration of more than $121.6 million.

Marcal filed the latest incarnation of its plan and related disclosure statement on Thursday in the U.S. Bankruptcy Court for the District of New Jersey. The disclosure statement says Marcal believes that the second amended plan is in the best interest of all creditors because it provides better prospects...
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