FiberMark Announcement
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
Current
Report
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report: October 27, 2005
(Exact
name of registrant as specified in charter)
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Delaware
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001-12865
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82-0429330
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(State
or other jurisdiction of incorporation)
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(Commission
File Number)
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(IRS
Employer Identification No.)
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161
Wellington Road
P.O.
Box 498
Brattleboro,
Vermont 05302
(802)
257-0365
Item
8.01. Other Events and Regulation FD Disclosure
On
October 27, FiberMark issued a press release (Exhibit 99.1) reporting that
the
U.S. Bankruptcy Court for the District of Vermont has authorized the company
to
begin the voting process on its revised Plan of Reorganization based on a
newly-approved Disclosure Statement. The Court also approved voting procedures
and dates related to the chapter 11 and voting process.
This
exhibit is filed herewith and shall be deemed “filed” for purposes of Section 18
of the Securities Exchange Act of 1934.
The
revised Disclosure Statement and Plan of Reorganization are available on
FiberMark’s Web site at the following link.
http://www.fibermark.com/restructure/indexRestructure.htm#planOfReorgFilings
Item
9.01. Financial Statements and Exhibits
Exhibit
99.1 Press
Release, Dated October 27, 2005
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant
has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
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FiberMark
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Date:
October 27, 2005
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By:
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/s/
John E. Hanley
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John
E. Hanley
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Vice
President and Chief Financial Officer
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EXHIBIT
INDEX
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Exhibit
No.
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Description
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Exhibit
99.1*
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Press
Release, Dated October 27, 2005
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| * Filed
herewith |
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| FOR IMMEDIATE RELEASE |
Contact:
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Janice C. Warren |
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Director of Investor Relations and
Corporate Communications |
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802 257
5981 |
FiberMark
Receives Bankruptcy Court Approval of Revised Disclosure Statement;
Solicitation
of Votes on Settlement Plan Commences
BRATTLEBORO,
VERMONT, October 27, 2005—FiberMark, Inc. (OTCBB: FMKIQ) today announced that
the U.S. Bankruptcy Court for the District of Vermont has authorized the
company
to begin the voting process on its revised Plan of Reorganization based on
a
newly-approved Disclosure Statement. The revised Plan incorporates a settlement
reached among the company’s three largest bondholders and the company. If
approved, the Plan will result in increased distributions to the company’s other
bondholders and unsecured creditors and resolution of issues identified by
a
Court-appointed examiner. The company’s prior Plan had proposed a litigation
mechanism for addressing the issues that are now the subject of the settlement.
The Court had approved the prior Plan’s associated disclosure statement last
month, in case a settlement was not achieved.
Voting
on
the company’s revised Plan will commence November 1, with a voting deadline of
November 22 set by the Court today. The Court also scheduled a confirmation
hearing for December 2. Assuming confirmation, the company would expect to
emerge from chapter 11 during the first week in January. As expected, the
company will become a private company upon its emergence. The shares of current
stockholders will be cancelled under the Plan and will have no value upon
emergence. Public trading of its stock is not expected to continue beyond the
date of chapter 11 emergence, at the latest.
FiberMark,
headquartered in Brattleboro, Vt., is a leading producer of specialty
fiber-based materials (paper, pressboard, coated cloth and nonwoven materials)
meeting industrial and consumer needs worldwide in 11 facilities in northeastern
United States and Europe. Products include filter media for transportation
and
vacuum cleaner bags; base materials for specialty tapes, graphic arts
applications, wallpaper, building materials and sandpaper; and cover/decorative
materials for office and school supplies, publishing, printing and premium
packaging.
This
document contains forward-looking statements. Actual results may differ
depending on the economy and other risk factors discussed in the company's
Form
10-K/A as filed with the SEC on May 4, 2005, which is also accessible on the
company's Web site.