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Article: As Previously Announced Panolam Files Voluntary Chapter 11 Petition to Implement Debt Restructuring Plan.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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Panolam Industries International, Inc. (the "Company") announced that it and its U.S. affiliates, including its parent, Panolam Holdings Co., have commenced a voluntary prepackaged proceeding under Chapter 11 of the Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. The Company's non-U.S. operation, which is legally separate, is not included in the Chapter 11 filing. During this process and with the Bankruptcy Court's approval, the Company will continue to operate in the ordinary course of business, which means that the Company will honor all obligations to its customers, vendors, suppliers and employees.
The Company previously announced ...