Latham International's disclosure statement approved, plan confirmed

By Lisa Kerner

Charlotte, N.C., Jan. 21 - Latham International, Inc.'s disclosure statement was approved and its plan of reorganization was confirmed, according to a Thursday filing with the U.S. Bankruptcy Court for the District of Delaware.

As previously reported, under Latham's pre-packaged plan of reorganization, holders of pre-bankruptcy financing claims will own 100% of the new Latham Group, a new $25 million ABL facility will be issued to cover post-confirmation operating expenses and a new $20 million note will be issued in favor of the lenders.

Latham is a Latham, N.Y., manufacturer of in-ground swimming pool components and pool accessories. The Chapter 11 case number is 09-14490.

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