Radnor looks to hire Carroll Services to complete wind down and liquidation

By Caroline Salls

Pittsburgh, Feb. 12 - Radnor Holdings Corp. requested court approval to hire Carroll Services LLC to provide wind down and liquidation services in the company's Chapter 11 case, according to a Friday filing with the U.S. Bankruptcy Court for the District of Delaware.

Under the agreement, Carroll Services will provide Radnor with a chief liquidating officer, who will also serve on the company's board of directors.

James Patrick Carroll will serve as the company's chief liquidating officer, replacing Stan Springel, who was serving as chief restructuring officer, and Carroll will replace board member Paul Finigan, who resigned after the sale of the company.

Although the company has completed the sale of substantially all of its assets, Radnor said it still has to address claims, investigate causes of action, appeals and objections, and develop and confirm a plan of liquidation.

A hearing is scheduled for March 13.

Radnor, a Radnor, Pa.-based foam cup, container and expandable polystyrene bead manufacturer, filed for bankruptcy on Aug. 21. Its Chapter 11 case number is 06-10894.

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