Judge Confirms Portola Packaging's Ch. 11 Plan

Law360 (October 15, 2008, 12:00 AM EDT) -- A bankruptcy judge has signed off on an order approving plastic-bottle maker Portola Packaging Inc.'s prepackaged Chapter 11 plan, bringing the company and several affiliates a step closer to emerging from bankruptcy.

U.S. Bankruptcy Judge Christopher S. Sontchi of the District of Delaware confirmed Portola's second amended joint plan of reorganization on Tuesday following a hearing on the proceedings.

Portola filed its second amended reorganization plan on Friday, six weeks after it filed its first prepackaged Chapter 11 plan, citing ballooning prices for plastic resins and...
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.