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New Page files for Chapter 11 plan

Photo: New Page
Photo: New Page
Published by
Simon Matthis - 15 Aug 2012

NewPage Corporation announced recently that it has filed a Joint Chapter 11 Plan with the United States Bankruptcy Court for the District of Delaware. The company also requested an extension of time to file the disclosure statement related to the Plan.

"The filing of our plan of reorganization is an important and positive step forward to a successful completion of our fina "Discussions with and among our major creditor groups regarding the plan are ongoing. We are hopeful that these discussions will lead to broad support for our plan," says George F. Martin, President and Chief Executive Officer of New Page.

NewPage is the leading producer of printing and specialty papers in North America with $3.5 billion in net sales for the year ended December 31, 2011.