Tissue Co. Gorham obtains approval for vote on Ch. 11 Liquidation

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By Rick Archer (October 27, 2021, 8:00 p.m. EDT) – A Delaware bankruptcy judge sent Gorham Paper & Tissue LLC’s Chapter 11 liquidation plan on Wednesday for a creditors vote, nearly a year after the maker of toilet paper sold its assets and reached a $ 7.5 million settlement with its parent company Zohar.

U.S. Bankruptcy Judge Karen Owens has issued an order granting interim approval to Gorham’s plan disclosure statement and setting a December date for a confirmation hearing of the company’s proposal to distribute its remaining assets to its non-creditors. guaranteed.

Gorham, once controlled by troubled debt mogul Lynn Tilton, filed for Chapter 11 protection in November 2020, bringing in around $ 100 million in …

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