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Almatis exits bankruptcy earlier than planned
Oct. 01, 2010 06:42PM PST
Long TailOn Thursday, European aluminum maker Almatis Holdings BV reported that it has emerged from U.S. bankruptcy proceedings.
On Thursday, European aluminum maker Almatis Holdings BV reported that it has emerged from U.S. bankruptcy proceedings.
The press release is quoted as saying:
Almatis had said Sept 20 that it expected to exit bankruptcy by the middle of October. [ID:nN20273747]. At the time, it received court approval for its reorganization under the control of Dubai International Capital LLC [DUBAHP.UL], or DIC. The reorganization caps months of battling over Almatis between DIC and Almatis’s main debtor, Oaktree Capital Management LP [OAKCP.UL]. Almatis, acquired by DIC via a leveraged buyout in 2007, has operations in Europe and the United States.
