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Gorham Paper and Tissue, White Mountain Tissue sale final


Gorham Paper and Tissue, White Mountain Tissue sale final
January 06, 2021GORHAM In a statement, released on Nov. 5, Gorham Paper and Tissue, LLC and White Mountain Tissue, LLC revealed that they have entered into an asset purchase agreement with an affiliate of Behrens Investment Group to acquire substantially all of the companies assets for $8.75 million in cash, in addition to the assumption of several million dollars in estimated liabilities, including the assumption of certain of the Companies tax, environmental liabilities and employee obligations, and specific bank debt. The Companies and Behrens intend to close the sale transaction as part of the Chapter 11 filings of the Companies. ....

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Bankruptcy Court approves Gorham Paper and Tissue sale, parties hope to close by the end of year


GORHAM — The sale of Gorham Paper and Tissue was approved in U.S. Bankruptcy Court for the District of Delaware Friday and the closing is expected to take place by the end of the year.
U.S. Bankruptcy Court Justice Karen Owens ruled she found no reason for delay in implementing the order, which calls for the sale of substantially all of the assets of GPT and its subsidiary, White Mountain Tissue.
GPT filed for Chapter 11 bankruptcy on Nov. 4, at the same time announcing it had agreed to sell its assets to an affiliate of Behrens Investment Group of New York. The sale document lists the purchaser as Gorham Acquisition LLC., but local officials report Central National-Gottesman Inc., will be the new owner. ....

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