Full Speed Ahead For Bankrupt PE-Owned Ohio Printers

Law360, New York (May 23, 2013, 9:14 PM EDT) -- A bankruptcy judge in Delaware on Thursday approved the first-day requests of Ohio-based sister commercial printing companies D.B. Hess and The Press of Ohio, both owned by private equity firm Wellspring Capital Management LLC, including up to $20 million in financing to help the firms sell off their assets.

The firms and their parent TPO Hess Holdings Inc. filed for Chapter 11 protection Wednesday with a prepackaged plan that included the proposed debtor-in-possession financing from General Electric Capital Corp., one of their major prepetition lenders.

The terms...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.