Among others, the mill will reportedly have to repay between 7.95% and 10% of its subordinated debts within 1 year following the start of the settlement process.
The court has also appointed a receiver, Alberto Zucchinelli, and a meeting with the creditors is planned for June 6 in order to vote on the restructuring plan.
In early 2013, the 6,500 tonne/yr recycled fluting manufacturer had to suspend its activities due to challenging market conditions, local media reported.
@ppi_europeFollowPPI Europeon Twitter! Interact with our editorial team in English, German, French, Spanish, Swedish and Finnish, enjoy live event coverage, get the latest on market trends and more.