Wellman requests court approval to hire Michael Gries as chief restructuring officer

By Jennifer Lanning Drey

Portland, Ore., March 20 - Wellman, Inc. requested court approval to hire Michael F. Gries of Conway, Del Genio, Gries & Co. LLC as chief restructuring officer, according to a Thursday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the motion, Wellman must hire a chief restructuring officer under a covenant related to its debtor-in-possession financing facility.

Gries is a founder of the firm, which specializes in corporate restructuring, crisis management and mergers and acquisitions in Chapter 11 cases.

A hearing has been scheduled for April 15.

Wellman, a Fort Mill, S.C., polyester products manufacturer, filed for bankruptcy on Feb. 22. Its Chapter 11 case number is 08-10595.

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