Creditors Oppose Pliant's Chapter 11 Plan

Law360, New York (June 1, 2006, 12:00 AM EDT) -- Awaiting court approval of its reorganization plan, Pliant Corp. remains on the cusp of emerging from bankruptcy, but some creditors are arguing that the packaging maker is not ready to wrap up its bankruptcy just yet.

At the beginning of confirmation hearings Wednesday, the group of senior noteholders claimed the company is not quite strong enough to exit Chapter 11. Another group said Pliant needed to map out how the restructuring will take care of problems that led the company to seek refuge from creditors in...
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