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Article: Waste Systems International Emerges From Chapter 11; North East Waste Services Formed to Acquire Reorganized Operations, Enters Into $25 Million Credit Facility.
- Article from:
- Business Wire
- Article date:
- July 10, 2002
CopyrightCOPYRIGHT 2002 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Business Editors
North East Waste Services, Inc. ("NEWS" or "the Company") announced today that the newly formed Company has acquired the operating subsidiaries of Waste Systems International, Inc. ("WSI") by funding WSI's Chapter 11 reorganization plan. WSI emerged from Chapter 11 on June 28, 2002. As previously announced, WSI and its 30 subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U. S. Bankruptcy Code on January 11, 2001. NEWS is a privately held company, owned by funds managed by DDJ Capital Management, LLC, of Wellesley, Massachusetts. NEWS also announced that it has entered into a new $25 million credit facility with ...