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Pliant Emerges From Chapter 11

Law360 (July 20, 2006, 12:00 AM EDT) -- Film and packaging producer Pliant Corp. exited Chapter 11 Wednesday after closing a $200 million revolving credit facility with Merrill Lynch Commercial Finance Corp.

Under the terms of its fourth amended reorganization plan, which was approved June 23, Pliant had only to secure the loan and reincorporate in Delaware to emerge from bankruptcy protection. The company had previously been based in Illinois.

“Today marks a successful completion of an important process,” said Pliant CEO Harold Bevis. “We are all excited about Pliant’s future, and look forward...
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