Safety-Kleen Corp has filed with the United States Bankruptcy Court in Wilmington DE an amended version of its proposed joint plan of reorganization and disclosure statement for the company and most of its domestic subsidiaries. Safety-Kleen voluntarily filed for Chapter 11 protection June 9, 2000.
The amended version of the proposed plan of reorganization and disclosure statement reflects Safety-Kleen's understanding of recent successful settlement discussions between the company's secured lenders and the official committee of unsecured creditors regarding litigation pending between them.
This proposed joint plan of reorganization and disclosure statement is subject to bankruptcy court approval and, if approved, could take effect early in 2003.
