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Paddock Enterprises, LLC Plan of Reorganization Confirmed by U.S. Court

Retrieved on: 
Friday, May 27, 2022
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Plan of Reorganization confirmed by U.S. Bankruptcy Court

Key Points: 
  • Plan of Reorganization confirmed by U.S. Bankruptcy Court
    Today, Paddock Enterprises, LLC (Paddock), a wholly owned subsidiary of O-I Glass, Inc. (O-I Glass), announced that an order confirming its Plan of Reorganization (the Plan) was entered by the United States Bankruptcy Court for the District of Delaware (the Bankruptcy Court), paving way to the implementation of the Plan and the final stage in the Chapter 11 process.
  • The broad support for the Plan among Claimants is indicative of the positive outcome it delivers to all parties.
  • We look forward to implementing the final steps in the Chapter 11 process following this confirmation by the Bankruptcy Court.
  • Paddock next will seek the United States District Court for the District of Delawares (the District Court) affirmation of the Bankruptcy Courts order.

O-I Glass Subsidiary Paddock Enterprises, LLC Files Chapter 11 Plan of Reorganization and Disclosure Statement

Retrieved on: 
Wednesday, January 12, 2022
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O-I Glass, Inc. (O-I Glass or O-I) today announced that its wholly owned subsidiary, Paddock Enterprises, LLC (Paddock), has filed its Plan of Reorganization (the Plan) and related disclosure statement ("Disclosure Statement") with the United States Bankruptcy Court for the District of Delaware (the Court) as part of the Chapter 11 bankruptcy case Paddock initiated on January 6, 2020.

Key Points: 
  • O-I Glass, Inc. (O-I Glass or O-I) today announced that its wholly owned subsidiary, Paddock Enterprises, LLC (Paddock), has filed its Plan of Reorganization (the Plan) and related disclosure statement ("Disclosure Statement") with the United States Bankruptcy Court for the District of Delaware (the Court) as part of the Chapter 11 bankruptcy case Paddock initiated on January 6, 2020.
  • This Plan represents a favorable outcome for all parties, and we look forward to the Plans implementation as Paddock moves toward emergence.
  • A hearing to consider approval of the Disclosure Statement is scheduled with the Bankruptcy Court for February 16, 2022.
  • Paddock is represented in the Chapter 11 case by Latham & Watkins LLP and Richards, Layton & Finger, PA, and O-I Glass is represented by Morris Nichols Arsht & Tunnell LLP.