Manistique Papers, committee’s request to drop Chapter 11 case OK’d

By Mark Reccek

Bethlehem, Pa., Aug. 18 – Manistique Papers Liquidation Co., Inc. and its official committee of unsecured creditors’ request to dismiss the company's Chapter 11 case was approved, according to an order issued Tuesday with the U.S. Bankruptcy Court for the District of Delaware.

According to the order, outstanding U.S. Trustee fees will be paid, and any residual cash remaining in the estate will be donated to the Anthony J. Schnelling Endowment of the American Bankruptcy Institute.

Additionally, company funds in the amount of $619,441 will be distributed on a pro rata basis among the remaining approved claims for professional fees and administrative expense claims.

Included is an administrative claim of $68,289.84 for a United States Steelworkers claim.

The administrative expense claims include $403,277.59 for Waste Management Recycling America LLC, $16,177.79 for Continental Recycling Corp. and $144,612.14 for C. Reiss Coal Co.

Manistique Papers, a Manistique, Mich., recycled-fiber specialty paper producer, filed for bankruptcy on Aug. 12, 2011. Its Chapter 11 case number is 11-12562.

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