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Vertis Chapter 11 bankruptcy case dismissal to take effect Dec. 11
By Caroline Salls
Pittsburgh, Dec. 8 – Vertis Holdings, Inc.’s Chapter 11 bankruptcy cases will be dismissed effective 11:59 p.m. ET on Dec. 11, according to an order filed Tuesday with the U.S. Bankruptcy Court for the District of Delaware.
As previously reported, Vertis said it believes it has fully maximized the value of its assets for creditors but that the various sales of its assets did not yield enough proceeds to fully repay all of its pre-bankruptcy secured lenders.
As a result, the company said it does not have sufficient funds to confirm a Chapter 11 plan.
Vertis, a Baltimore-based marketing communications company, filed for bankruptcy on Oct. 10, 2012. Its Chapter 11 case number is 12-12821.
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