Pope & Talbot granted court approval of $31.15 million Halsey pulp mill sale

By Jennifer Lanning Drey

Portland, Ore., June 11 - Pope & Talbot, Inc. obtained court approval to sell its Halsey, Ore., pulp mill to Halsey Pulp LLC for $31.15 million, according to a Wednesday filing with the U.S. Bankruptcy Court for the District of Delaware.

The approval was granted following an auction that reopened the previously closed bidding for the assets on Monday.

Halsey Pulp paid a $1.7 million deposit on May 30.

Pope & Talbot said previously that proceeds from the sale would be used to repay its debtor-in-possession lenders.

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.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.