Klöckner Pentaplast - first bankruptcy hearing in US chapter 11 bankruptcy case in Texas

For more information about the bankrupt company see https://en.wikipedia.org/wiki/Kl%C3%B6ckner_PentaplastFor more information about the bankruptcy filing see article on www.plasticstoday.com below:Klöckner Pentaplast, a global packaging and specialty film manufacturer, has filed for Chapter 11 bankruptcy protection. Part of a comprehensive financial restructuring plan, the filing will reduce the company's funded debt by approximately €1.3 billion ($1.5 billion).The company and certain subsidiaries voluntarily initiated the prepackaged Chapter 11 process in the US Bankruptcy Court for the Southern District of Texas. Under the restructuring agreement, ownership of the company will transfer to certain Klöckner Pentaplast partners following completion of the process.https://www.plasticstoday.com/medical/kl-ckner-pentaplast-enters-chapter-11-restructuring-to-reduce-1-3-billion-debt