Breaking News

FiberMark Reorganization Plan Approved

December 5, 2005

The U.S. Bankruptcy Court for the District of Vermont has confirmed FiberMark’s Plan of Reorganization, setting the stage for the company's emergence from chapter 11 as a private company in early January 2006.

The plan, dated November 1, 2005, received strong support among its creditors. Under the Plan, general unsecured creditors, including most bondholders and trade creditors, will recover approximately 70% of their claims, and the company expects to emerge with funded debt of up to approximately $88 million, representing one-fourth of its pre-chapter 11 debt level.

FiberMark has received exit financing commitments from Silver Point Finance LLC, and revolving credit facilities for the company's North American and German operations, provided by GE Commercial Finance. GE also extended the debtor-in-possession ("DIP") credit facility through January 31, 2006, to ensure financing coverage until emergence.
  • Flushable Wipes Update

    Flushable Wipes Update

    Karen McIntyre, editor||April 13, 2016
    INDA president continues to make defending flushable wipes one of his top priorities.

  • Wipes Entrepreneurs Target Men

    Wipes Entrepreneurs Target Men

    Tara Olivo, associate editor||April 13, 2016
    As more men groom with personal care products, new innovators are seeing opportunities in the wipes market.

  • Germany's Dr. Schumacher Expands Personal Care Wipe Plan

    By Jaroslaw Adamowski, correspondent||April 13, 2016
    50,000 square foot facility opens four years after older site was lost in fire.