By Christopher Spink
LONDON, Sept 28 (IFR) – The long-awaited restructuring of Norske Skog, which
seemed to be reaching consensus earlier this week, looks like being disrupted
again after junior creditors objected to the rescue plan put out by the
Norwegian pulp and paper company, and since backed by two-thirds of secured
creditors.
The committee of unsecured noteholders, which would have been left with a
small amount of equity in the group under the company plan, called for the
latter to be withdrawn and urged the board to work with them on its alternative
proposal.
In addition the unsecured committee, claiming to have a majority of the
notes and thus able to block the company deal, called for the senior …
Read the full article at: http://www.businessinsider.com/r-junior-creditors-threaten-norske-skog-restructuring-2017-9