Atlantis Plastics granted approval to hold lawsuit dispute mediation

By Caroline Salls

Pittsburgh, Jan. 29 - Atlantis Plastics, Inc.'s Chapter 7 trustee received court approval to hold a second mediation of disputes arising from a more than $100 million fraudulent conveyance lawsuit, according to a Tuesday filing with the U.S. Bankruptcy Court for the Northern District of Georgia.

Trustee Marcus A. Watson, who filed the lawsuit, said the parties have agreed to a Feb. 1 mediation date. David Cranshaw of Morris, Manning and Martin, LLP will act as mediator.

According to the motion, the parties previously participated in an unsuccessful mediation before any discovery was conducted.

Watson said he believes that with a better understanding of the facts gained through discovery, "the defendants better appreciate the underlying claims and facts, which will facilitate mediation."

In addition, the trustee said that he expects to have an expert report completed before the second mediation, which should also help settlement efforts.

Atlantis Plastics, an Atlanta-based manufacturer of polyethylene stretch and custom films and molded plastic products, filed for bankruptcy on Aug. 10, 2008. Its Chapter 11 case number is 08-75473.

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