Sherwin Alumina plan unanimously OK’d by three of four voting classes

By Caroline Salls

Pittsburgh, Jan. 9 – Sherwin Alumina Co., LLC’s modified Chapter 11 plan was unanimously accepted by three of four voting creditor classes, according to a ballot report filed Friday with the U.S. Bankruptcy Court for the Southern District of Texas.

Specifically, the plan was accepted by the one holder of $95 million in pre-bankruptcy credit agreement claims, the one holder of $2 million in expired collective bargaining agreement general unsecured claims and the one holder of $1.00 in Pension Benefit Guaranty Corp. general unsecured claims.

In addition, a total of 90 holders, or 96.77% in number, of $29.97 million, or 88.85% in amount, of general unsecured claims other than expired CBA, PBGC and TCEQ claims voted to accept the plan, while three holders, or 3.23% in number, of $3.76 million, or 11.15% in amount, of those claims voted to reject it.

The plan confirmation hearing is scheduled for Jan. 23.

Sherwin, a Gregory, Texas-based alumina producer, filed for bankruptcy on Jan. 11, 2016. The Chapter 11 case number is 16-20012.

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