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Alcan, Rusal, Marubeni top Aluminum Shapes' creditors

Thursday, Mar 20, 2008
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Alcan Aluminum, Rusal and Marubeni top the list of the top 20 unsecured creditors in the voluntary Chapter 11 bankruptcy filing of US extruder Aluminum Shapes. Alcan is owed $6.581 million, Rusal America is owed $5.276 million, and the fourth is Marubeni America at $1.871 million. The remaining top 20 unsecured metals-related creditors are as follows: Glencore, $1.487 million; Atlantic Scrap & Processing, $690,968; Maryland Recycling, $215,236; American Iron and Metal, $181,087; Metal Management, $169,441; and Southeastern Extrusion Tool, $100,803. Aluminum Shapes filed Chapter 11 bankruptcy protection in New Jersey, but the company is operating normally after receiving $85 million in funding by Camden-based investment company Versa Capital Management. Aluminum Shapes. New Jersey, has simultaneously filed a plan of reorganization to complete its restructuring on an expedited basis. It plans to emerge from Chapter 11 in the second quarter, then to be owned by Versa Capital Management, in exchange for the funding of the plan of reorganization. The filing was made on March 16 by Shapes/Arch Holdings and its businesses Aluminum Shapes, Delair, Ultra Hardware and Accu-Weld LLC in the US Bankruptcy Court for the District of New Jersey.

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