Leiner Chapter 11 Plan To Include New Capital, Credit, Debt Restructuring
This article was originally published in The Tan Sheet
Executive Summary
Leiner Health Products will use a tentative $20 mil. equity investment to support ongoing operations as it prepares to seek Chapter 11 protection in early 2002, the company stated
You may also be interested in...
Leiner Ownership Expected To Change Hands In Recapitalization Deal
North Castle Partners is reportedly in the second round of talks to sell its stake in Leiner Health Products to another private equity firm
Leiner $30 Mil. Vitamin Price-Fixing Settlement Applied To Outstanding Debt
Leiner Health Products' recent settlement in the federal vitamin price-fixing litigation has reduced the company's outstanding indebtedness by more than $30 mil
Leiner’s new CFO
Former Weider CFO & Chief Operating Officer Robert Reynolds to replace David Coles, who took over as interim CFO in September, private labeler says Jan. 28. Coles works with Alvarez & Marsal, a turnaround specialist firm, and will continue to oversee Leiner's restructuring, slated for completion in approximately two-and-a-half months. Reynolds was with Weider from 1990-1999 and most recently was CEO of Luxul Corp., a wireless broadband communications company he co-founded. Leiner also says it has begun soliciting approval from senior bank lenders and bondholders for its Chapter 11 restructuring package (1"The Tan Sheet" Nov. 12, 2001, p. 11)...