FiberMark Requests Continuance of Confirmation Hearing as Bondholders Continue Negotiations on Unresolved Issues Monday March 7, 8:12 am ET
BRATTLEBORO, Vt., March 7 /PRNewswire-FirstCall/ -- FiberMark, Inc., (OTC Bulletin Board: FMKIQ - News) today announced that it has requested a short continuance of the confirmation hearing on its Plan of Reorganization previously scheduled to take place on March 7. FiberMark requested the continuance to permit the company's three largest bondholders, who are members of the Creditors Committee, to continue discussions with respect to resolving certain corporate control and governance issues-specifically, on the terms of the documents governing the New Common Stock and the New Notes to be issued pursuant to the Plan. FiberMark emphasized that the disagreements in question are not between the company and the bondholders, but among the bondholders themselves. "We are hopeful that with additional time the parties will find a way to resolve their differences," said Alex Kwader, chairman and chief executive officer, "but there can be no assurance that even with more time they will be able to do so."