Pope & Talbot trustee gets final approval to continue to run business, use cash collateral through June 30

By Jennifer Lanning Drey

Portland, Ore., June 4 - Pope & Talbot, Inc.'s interim Chapter 7 trustee received final court approval to continue limited operations of the company's business through June 30, according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

Interim trustee George L. Miller was also granted final approval to continue to use the company's cash collateral under the approval.

As previously reported, Miller is still operating Pope & Talbot's business on a limited basis while he completes the sale of the company's Halsey, Ore., mill.

In connection with the limited ongoing operations, the estate still has some payment obligations, including employee payroll.

Miller previously said continuing operations through June 30 will allow for a safe and orderly shut down of Pope & Talbot's businesses.

Pope & Talbot, a Portland, Ore.-based pulp and wood products company, filed for bankruptcy on Nov. 19, 2007. Its Chapter 11 case number is 07-11738.

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