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Nellson Nutraceutical Files Ch. 11 Liquidation Plan

Law360 (June 23, 2008, 12:00 AM EDT) -- Nellson Nutraceutical Inc. has filed a disclosure statement and Chapter 11 liquidation plan outlining its procedure, endorsed by the creditors committee and first-lien lenders committee agent UBS AG, for paying back $255 million in outstanding debt the diet bar maker owes first-lien lenders.

The documents, filed Friday in the U.S. Bankruptcy Court for the District of Delaware, lay the groundwork for Nellson to distribute its remaining assets and close the book on an at-times tumultuous bankruptcy proceeding.

Other than the debt owed first-lien lenders, Nellson has...
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