Pulp & Paper News

Italian court extends recycled board manufacturer PKarton's observation period until January 26



BRUSSELS , Dec. 11, 2012 (RISI) - 

The Court of Milan has accepted recycled board manufacturer PKarton's request to extend its deadline to find prospective investors, according to Roberto Chiodelli, the owner of the Italian investment firm Special Situation, which acquired PKarton from the investment company IKF last July.

The company filed for a preventive creditors' settlement ("concordato preventivo") with the Court of Milan on September 14 to avoid bankruptcy. The court placed the company under observation and initially gave PKarton until the beginning of December to present a restructuring plan and find a potential investor.

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