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Chesapeake Corporation
Chesapeake Corporation Reaches Agreement to Sell All of Its Business Operations As a Going Concern to Affiliates of Irving Place Capital Management, L.P. and Oaktree Capital Management, L.P.
January 17th, 2009
Chesapeake Corporation (Other OTC: CSKE) announced that it has reached an agreement to sell all of its operating businesses to a group of investors including affiliates of Irving Place Capital Management, L.P. and Oaktree Capital Management, L.P., who intend to continue operating these businesses as a going concern. To consummate this sale, Chesapeake Corporation and its U.S. operating subsidiaries filed voluntary Chapter 11 petitions today in the Eastern District of Virginia in Richmond. All of the Company's operations - including all of its manufacturing and distribution facilities in the U.S. and around the world - are open and operating on normal schedules,...
Source: Law & Health Weekly (2009-01-17)
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