Mercer International Files for Chapter 11 With Plan to Hand Control to Creditors
Mercer International filed for Chapter 11 bankruptcy on Monday with a prepackaged plan to transfer control to senior creditors in exchange for eliminating roughly $900 million in debt.
By Akiko MatsudaMercer International filed for chapter 11 bankruptcy on Monday with a prepackaged plan to hand control to senior creditors in exchange for eliminating roughly $900 million in debt.The bankruptcy covers only Mercer's Vancouver, British Columbia-based parent holding company and a Texa…