August 25, 2018 – Appvion’s Second Amended Joint Combined Disclosure Statement and Plans of Liquidation became effective [Docket No. 999]. The Court had previously confirmed the plan on August 14, 2018 [Docket No. 970]. On June 13, Appvion announced that it had completed the sale of substantially all of its assets to a group of its lenders led by Franklin Advisers, Inc. for approximately $365 million plus the assumption of substantial liabilities, including many of the Company’s contractual obligations.The Company, which manufactures paper products, filed for Chapter 11 protection on October 1, 2017, listing more than $387.2 million in prepetition assets.
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