Click here for Pulp & Paper Radio International
The Paperitalo Library
Free Downloads
My Profile
Smurfit-Stone Announces Voting Results on Reorganization Plan

Creve Coeur, Missouri, and Chicago, Ilinois, USA, 14 April 2010 -- /PRNewswire/ -- On 13 April 2010, in anticipation of the confirmation hearings commencing on 15 April 2010, Smurfit-Stone announced through pleadings filed in the United States Bankruptcy Court the voting results with respect to the plan of reorganization filed in the United States Chapter 11 proceedings and the Companies' Creditors Arrangement Act (CCAA) proceedings in Canada.  

The plan of reorganization has received overwhelming support from its voting creditor constituencies both in dollar amount of claims and in number of claim holders who voted on the plan, and meets the confirmation standards under the Bankruptcy Code, except with respect to Stone Container Finance Company of Canada II (Stone Fin II), a special purpose financing subsidiary which the company has excluded from the plan of reorganization. The exclusion of Stone Fin II will not affect the timing of the company's confirmation of the other Chapter 11 plans or delay the company's emergence from the Chapter 11 and CCAA proceedings.

Smurfit-Stone Container Corporation is one of the industry's leading integrated containerboard and corrugated packaging producers, and one of the world's largest paper recyclers. The company is a member of the Sustainable Forestry Initiative and the Chicago Climate Exchange.  Smurfit-Stone generated revenue of USD 7.04 billion in 2008; has led the industry in safety every year since 2001; and conducts its business in compliance with the environmental, health, and safety principles of the American Forest & Paper Association.


Related Articles:

Powered by Bondware
News Publishing Software

The browser you are using is outdated!

You may not be getting all you can out of your browsing experience
and may be open to security risks!

Consider upgrading to the latest version of your browser or choose on below: