DRUMMOND WOODSUM HELPS SECURE INCREASED OFFER FOR LINCOLN PAPER MILL ASSESTS
October 13, 2015
Representing the Official Committee of Unsecured Creditors in the Chapter 11 case of Lincoln Paper & Tissue, Jeremy Fischer, Jeff Piampiano, and Drummond Woodsum's Bankruptcy, Restructuring & Creditors' Rights group leveraged the interest of a new bidder to obtain an increased bid of $5.3 million for certain assets of the bankrupt paper mill and gain material concessions to the economic terms of the bid. In all, this will result in increased consideration of more than half a million dollars flowing to the bankruptcy estate and its creditors.
The Bangor Daily News reported the on the late offer from a competing distressed asset investor in the October 13, 2015 article, "Last-minute offer ups initial bid on Lincoln mill equipment to $5.3 million." To read the article in its entirety please click here.