Italian court approves containerboard producer Cartiera Bompani’s restructuring plan

Read so far

Italian court approves containerboard producer Cartiera Bompani’s restructuring plan

April 29, 2014 - 22:08

BRUSSELS, April 30, 2014 (PPI Europe) -A Parma court has approved the restructuring plan submitted by the recycled fluting manufacturer Cartiera Bompani for its debt settlement proceedings with creditors, according to local media reports.

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.