Cole Schotz Counsels Pretium Packaging in Connection with its Chapter 11 Proceedings
Cole Schotz served as co-counsel to Pretium Packaging, L.L.C., a leading manufacturer of plastic containers, in connection with its chapter 11 proceedings filed in the U.S. Bankruptcy Court for the District of New Jersey. On January 28, 2026, the company commenced its chapter 11 cases to implement a deleveraging and recapitalization transaction designed to:
- Reduce the company’s funded debt by approximately $900 million
- Raise new debt and equity financing
- Pay general unsecured creditors in full
The prepackaged plan was accepted by all voting creditors and approved by the U.S. Bankruptcy Court for the District of New Jersey in a 26-day period from filing to confirmation and exemplifies the New Jersey Court’s ability to administer complex financial restructurings in record speed while protecting creditors’ rights effectively and efficiently.
The Cole Schotz team included Michael D. Sirota, Warren A. Usatine, Felice R. Yudkin and Daniel Harris.
As the law continues to evolve on these matters, please note that this article is current as of date and time of publication and may not reflect subsequent developments. The content and interpretation of the issues addressed herein is subject to change. Cole Schotz P.C. disclaims any and all liability with respect to actions taken or not taken based on any or all of the contents of this publication to the fullest extent permitted by law. This is for general informational purposes and does not constitute legal advice or create an attorney-client relationship. Do not act or refrain from acting upon the information contained in this publication without obtaining legal, financial and tax advice. For further information, please do not hesitate to reach out to your firm contact or to any of the attorneys listed in this publication. No aspect of this advertisement has been approved by the highest court in any state.
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