*NEWS*LATEST ON DAISYTEK’S CHAPTER 11

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*NEWS*LATEST ON DAISYTEK’S CHAPTER 11

 user 2004-01-25 at 9:34:00 am Views: 82
  • #4815

    Headline: Daisytek files Chapter 11 plan and statement

    Daisytek International Has filed its proposed plan and disclosure statement with the US Bankruptcy Court for the Northern District of Texas.

    The plan “contemplates the transfer of Daisytek’s remaining assets to a creditors trust which will oversee the winding up of operations of the debtors and make distributions to holders of allowed claims”.

    It does not “contemplate any distribution for holders of equity interests in Daisytek International”. The plan was formulated after a series of talks held with the Official Unsecured Creditors Committee.

    A final confirmation of the plan is expected to be formalised midway through next month.

    Allen (TX)