Greeting Card Maker Enters Ch. 11 To Finish Sale

Law360, New York (January 5, 2009, 12:00 AM EST) -- Greeting card company Recycled Paper Greetings Inc. has ducked into Chapter 11 protection to complete its proposed sale to American Greetings Corp. amid complaints from its corporate parent that the deal is an attempt to eliminate competition in the marketplace.

Chicago-based Recycled Paper Greetings filed its bankruptcy petition, disclosure statement and reorganization plan Friday in the U.S. Bankruptcy Court for the District of Delaware as part of a sale of the company to American Greetings, the second-largest greeting card maker in the U.S.

The deal calls...
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