We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

BoNY Appeals Pacific Lumber Reorganization Plan

Law360 (July 10, 2008, 12:00 AM EDT) -- The Bank of New York, acting as trustee for a group of Pacific Lumber Co. noteholders, will appeal an order confirming the bankrupt company's reorganization plan on the ground that it is allegedly unfair to the noteholders.

On Tuesday, Judge Richard S. Schmidt of the U.S. Bankruptcy Court for the Southern District of Texas confirmed a modified version of the reorganization plan, proposed by creditors Mendocino Redwood Co. and Marathon Structured Finance Fund LLP, which increased the total compensation for the noteholders from $510 million to...
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.