NC Sawmill And Lender Strike Deal On Ch. 11 Plan Vote

By Rick Archer (March 9, 2022, 7:51 PM EST) -- A Delaware bankruptcy judge said Wednesday that she would approve a North Carolina sawmill's Chapter 11 liquidation plan after the sawmill and its top creditor reached a deal to allow the creditor's disputed $75 million claim for voting purposes.

On the second day of a virtual confirmation hearing, Judge Karen B. Owens of the U.S. Bankruptcy Court for the District of Delaware, who had adjourned the first day of hearings to give Klausner Lumber Two LLC and creditor Carolina Sawmills LP time to work out their conflicts over the plan, approved the deal the parties struck overnight and said she was...

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