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Petition filed: September 23, 2008
Case No. 08-12175 (Bankr. D. Del. 2008) (PJW)
Committee Appointed: October 2, 2008
Any and all questions to the Official Committee of Unsecured Creditors or its counsel should be submitted by an e-mail addressed to: afy@lowenstein.com.
Debtors' businesses: AFY Holding Company and American Fibers and Yarns Company (the "Debtors") each filed for bankruptcy protection in the Bankruptcy Court for the District of Delaware on September 23, 2008. The Debtors' cases are jointly administered under the Case No. 08-12175.
The Debtors manufactured solution-dyed Polypropylene yarns in their Bainbridge, Georgia and Afton, Virginia production facilities for distribution throughout the United States. The Debtors were the largest supplier of solution-dyed Polypropylene filament yarns and serviced several markets. Fibers produced by the Debtors include flat, textured, and heathered yarns in a broad range of deniers and colors. With thousands of yarns in their product portfolio and the ability to engineer yarns to customer specifications, the Debtors were a dominant supplier to the residential home marketplace and the contract furnishings marketplace, in which the Debtors produced polypropylene fibers used in woven fabric for commercial office buildings and hospitality and healthcare facilities. The Debtors' products also extended to the industrial market place and the automotive and apparel industries, in which the Debtors provided stabilized yarns for automotive seating and netting and established a niche market for yarns used in the production of thermalwear, blankets, sweaters, socks and other apparel applications.
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COMMITTEE MEMBERS
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George Goudelock
Sonoco Products Company
1 North 2nd Street
Hartsville, South Carolina 29550
William Lumpkin
Standridge Color Corporation
1196 East Hightower Trail
Social Circle, Georgia 30025
Howard Le Vasseur
SSC Industries
1550 E. Taylor Ave.
East Point, Georgia 30344
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COMMITTEE COUNSEL
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LOWENSTEIN SANDLER PC
65 Livingston Avenue
Roseland, New Jersey 07068
Phone: 973-597-2500
Fax: 973-597-2400
www.lowenstein.com
Kenneth A. Rosen, Esq.
Direct Dial: 973-597-2548
Direct Fax: 973-597-2549
E-mail: krosen@lowenstein.com
Sharon L. Levine, Esq.
Direct Dial: 973-597-2374
Direct Fax: 973-597-2375
E-mail: slevine@lowenstein.com
Eric H. Horn, Esq.
Direct Dial: 973-597-2578
Direct Fax: 973-597-2579
E-mail: ehorn@lowenstein.com
Sean E. Quigley, Esq.
Direct Dial: 973-597-6306
Direct Fax: 973-597-6307
E-mail: squigley@lowenstein.com
ASHBY & GEDDES, P.A.
500 Delaware Avenue
P.O. Box 1150
Wilmington, DE 19899
Phone: 302-654-1888
Fax: 302-654-2067
www.ashby-geddes.com
Don A. Beskrone, Esq.
Direct Dial: 302-654-1888, x248
E-mail: dbeskrone@ashby-geddes.com
Amanda M. Winfree, Esq.
Direct Dial: 302-654-1888, x283
E-mail: awinfree@ashby-geddes.com
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COMMITTEE FINANCIAL ADVISOR
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Amper, Politziner & Mattia
2015 Lincoln Highway
P.O. Box 988Edison, New Jersey
Edison, New Jersey 08818
www.amper.com
Edward A. Phillips
Direct Dial: (215) 881-8168
E-mail: ephillips@amper.com
Allen Wilen
Direct Dial: (732) 287-1000 x287
E-mail: awilen@amper.com
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DEBTORS' COUNSEL
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YOUNG, CONAWAY, STARGATT & TAYLOR
1000 West Street, 17th Floor
P.O. Box 391
Wilmington, DE 19899
www.ycst.com
Edward J. Kosmowski, Esq.
Michael R. Nestor, Esq.
Nathan D. Grow, Esq.
Robert F. Poppiti, Jr., Esq.
Phone: 302-571-6600
Fax: 302-571-1253
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DEBTORS' FINANCIAL ADVISOR AND INVESTMENT BANKER
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RAS Management Advisors LLC
Timothy Boates
1285 Sharps Cove Road
Gurley, AL 35748
Phone: 256-776-4989
Fax: 256-776-4990
www.rasmanagement.com
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OFFICE OF THE UNITED STATES TRUSTEE
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Jane Leamy, Esq.
844 King Street, Room 2207
Lockbox #35
Wilmington
Phone: 302-573-6491
Fax: 302-573-6497
http://www.usdoj.gov/ust
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NOTICING, CLAIMS AND BALLOTING AGENT
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Epiq Bankruptcy Solutions LLC
757 Third Avenue, 3rd Floor
New York, NY 10017
Phone: 646-282-2500
Fax: 646-282-2501
www.epiqbankruptcysolutions.com
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CHAPTER 11 PROCESS
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Chapter 11, entitled Reorganization, ordinarily is used by commercial enterprises that desire to continue operating a business and repay creditors concurrently through a court-approved plan of reorganization. The chapter 11 debtor usually has the exclusive right to file a plan of reorganization for the first 120 days after it files the case and must provide creditors with a disclosure statement containing information adequate to enable creditors to evaluate the plan. The court ultimately approves (confirms) or disapproves the plan of reorganization. Under the confirmed plan, the debtor can reduce its debts by repaying a portion of its obligations and discharging others. The debtor can also terminate burdensome contracts and leases, recover assets, and rescale its operations in order to return to profitability. Under chapter 11, the debtor normally goes through a period of consolidation and emerges with a reduced debt load and a reorganized business.
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FILING OF PROOFS OF CLAIM - DEADLINE
DECEMBER 5, 2008 AT 4:00 P.M. (ET)
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PDF Claims Bar Date Order and Forms - Docket No. 131 - 1, Docket No. 131 - 2, Docket No. 131 - 3, and Docket No. 140 - 4
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UPCOMING HEARING DATES
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Hearing Dates:
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November 20, 2008 at 10:30 a.m.
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December 18, 2008 at 11:30 a.m.
Location:
Before the Honorable Peter J. Walsh
United States Bankruptcy Court, District of Delaware
824 Market Street, 6th Floor, Courtroom No. 2
Wilmington, Delaware 19801
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