Judge Confirms Portola Packaging's Ch. 11 Plan

Law360, New York (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...
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