(Bloomberg) -- Radnor Holdings Corp., a cup manufacturer that sold its business to Tennenbaum Capital Partners LLC, filed a liquidating Chapter 11 plan that doesn't guarantee unsecured creditors will receive any payment on their claims.
The plan, filed April 30, says secured creditors with $28 million in claims will be paid first from a liquidating trust from lawsuit recoveries. Unsecured creditors with $189 million in claims will receive payments from the trust only after secured creditors are fully paid.
Read more at Bloomberg Bonds News
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