USA: Court Backs Polymer Group Reorganisation Plan
The world's third largest producer of nonwoven fabric, Polymer Group Inc, on Friday revealed a court had approved its reorganisation plan and it expects to emerge from bankruptcy protection by February 22. The South Carolina-based firm, which filed for Chapter 11 last May with debts of more than $1 billion, said in a short press release the plan had received the necessary support from all creditor and shareholder classes eligible to vote for it.
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