Union Looks To Block Marcal Asset Sale

Law360, New York (January 15, 2008, 12:00 AM EST) -- A labor union objecting to Marcal Paper Mills Inc.'s plan to sell of substantially all of its assets to Nexbank SSB has filed an adversary complaint asking the bankruptcy court to block the sale, one day before a scheduled hearing on the proposed transaction.

The proposed sale was to be the subject of a hearing slated for Tuesday, after which Judge Morris Stern of the U.S. Bankruptcy Court for the District of New Jersey would decide whether or not to green-light the deal.

The outcome of...
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