Bankruptcy/Chapter 11 / Post-Bankruptcy Stocks / Materials
NewPage Plan Filed
August 13, 2012
NewPage filed with the U.S. Bankruptcy Court a Joint Chapter 11 Plan. The Company also requested an extension of time to file a related disclosure statement. “The filing of our plan of reorganization is an important and positive step forward to a successful completion of our financial reorganization,” said George F. Martin, president and chief executive officer. “Discussions with and among our major creditor groups regarding the plan are ongoing. We are hopeful that these discussions will lead to broad support for our plan.” According to the Plan, “This Joint Chapter 11 Plan consists of twelve separate chapter 11 Plans - one Plan for each of the Debtors that will emerge as a reorganized entity. This Plan does not substantively consolidate any Estates. Two Debtors - NewPage Group Inc and NewPage Holding Corporation - are not proposing a chapter 11 Plan and intend to dissolve as described in Section 4.5.1 of the Plan. Any reference herein to the ‘Plan’ shall be a reference to the separate Plan of each Debtor, as the context requires. The votes to accept or reject a Plan by holders of Claims against a particular Debtor shall be tabulated as votes to accept or reject that Debtor’s separate Plan. Distributions under a Debtor’s Plan will be made to the holders of Claims in the Classes identified in that Plan, based upon the asset values in that Debtor’s Estate.”
Read more Bankruptcy News
George Putnam's Favorite Stocks for 2016
Turnaround Investing Blog
Negative media headlines can be a great source of turnaround ideas. Stories about struggling companies, management turmoil, failed strategies, large financial losses, industrial accidents, lawsuits and the like can drive a stock to well-below reasonable levels and may provide a buying opportunity. Like all Wall Street axioms, however, “buy on bad news” must be accompanied by careful analysis to evaluate the potential for turnaround success.
Your Financial Security is Serious Business...
so why should you trust The Turnaround Letter?
The Turnaround Letter's 15+-year returns were 11.2%--vs. S&P's 5.1%
30 Years of Turnaround Investing Experience & Reliable Stock Market Advice
2016's Closed Out Purchase Recommendations Averaged 60% Stock Profit
Diverse Monthly Stock Picks Personally Selected by George Putnam
Banking on a Financial Sector Turnaround
MoneyShow.com recently tapped George's favorable opinion for a banking industry rebound. In "Turnaround Expert's Banking Bets," Steve Halpern highlights a trio of Putnam's top stock picks from the battered financial sector.
George reminds value investors: "Fortunately, many of the factors...just aren't present in the market, and the other reason that investors seem to be down on the banks is they sort of expected the Fed to raise interest rates a little faster than they have. And the banks do better when interest rates are rising because they have wider margins on their loans, but I think the Fed will gradually raise rates to we will see profits improve, and so I think this downturn is really temporary."
Get more stock market advice.
Copyright © All Rights Reserved.
Design, CMS, Hosting & Web Development :: ePublishing.