Newly Bankrupt Radnor To Sell Its Assets

Law360, New York (August 22, 2006, 12:00 AM EDT) -- Foam cup maker Radnor Holdings Corp. filed for Chapter 11 protection Monday, having already found a buyer for nearly all of its assets.

Tennenbaum Capital Partners LLC, a Santa Monica, Calif.-based private investment firm, will serve as the stalking horse bidder at Radnor’s bankruptcy auction and will gain control of the company if it comes up with the highest bid.

According to court papers, Radnor is selling its WinCup and StyroChem businesses and all of its equity in foreign companies for a minimum of $200 million....
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