September 23, 2017 4:33 PM ET

Trading Companies and Distributors

Company Overview of Gulf-Great Lakes Packaging Corporation

Company Overview

Gulf-Great Lakes Packaging Corporation provides packaging solutions. It offers products, such as steel and plastic strapping, stretch and shrink films, pressure sensitive tapes, polyethylene products, automatic strapping machines, semi automatic strapping machines, and strapping systems; equipment and tools, such as wrappers, sealers, bundling systems, dispensers, steel strapping tools, and plastic strapping equipment and tools; and services, which include equipment and tool installation, repair, inspection, evaluation, demonstration, and preventative maintenance, as well as parts. The company was founded in 1975 and is based in Dolton, Illinois.

1040 Maryland Avenue

Dolton, IL 60419

United States

Founded in 1975

Phone:

708-596-4910

Fax:

708-841-4888

Key Executives for Gulf-Great Lakes Packaging Corporation

Gulf-Great Lakes Packaging Corporation does not have any Key Executives recorded.

Gulf-Great Lakes Packaging Corporation Key Developments

First Amended Liquidation Plan and Disclosure Statement Approved for Gulf-Great Lakes Packaging Corporation

The US Bankruptcy Court approved the first amended plan of liquidation and related disclosure statement of Gulf Packaging, Inc. on December 15, 2015. The debtor had filed its first amended plan in the Court on November 4, 2015. As per the amended plan, administrative expense claims, statutory fees, fee claims of $0.38 million, priority non-tax claims of $0.04 million and priority tax claims of $0.02 million, will be paid full in cash on the effective date. FCC 506(b) claims of $1.98 million, FCC secured claim of $9.20 million and FCC superpriority claims will be paid full from liquidation of FCC's collateral. Other secured claims of $0.41 million will either receive payment full in cash or receive collateral securing the allowed claim. General unsecured claims of $26.65 million shall receive a pro-rata share of 20% of the proceeds of liquidation of creditor trust assets. Equity interests shall be cancelled and holders shall neither receive nor retain any distribution under the plan. The plan will be funded through liquidation of FCC's collateral and creditor trust assets.

First Amended Liquidation Plan Filed by Gulf-Great Lakes Packaging Corporation

Gulf Packaging, Inc. filed first amended liquidation plan and related disclosure statement in the US Bankruptcy Court on November 4, 2015. Treatment of all the classes of claims remain same as per the previous plan.

Liquidation Plan & Related Disclosure Statement Filed by Gulf-Great Lakes Packaging Corporation

Gulf Packaging, Inc. filed liquidation plan and related disclosure statement in the US Bankruptcy Court on October 30, 2015. As per the plan filed, administrative expense claims, statutory fees, fee claims of $0.38 million, priority non-tax claims of $0.04 million and priority tax claims of $0.02 million will be paid full in cash on the effective date. FCC 506(b) claims of $1.98 million, FCC secured claim of $9.20 million and FCC superpriority claims will be paid full from liquidation of FCC's collateral. Other secured claims of $0.41 million will either receive payment full in cash or receive collateral securing the allowed claim. General unsecured claims of $26.65 million shall receive a pro-rata share of 20% of the proceeds of liquidation of creditor trust assets. Equity interests shall be cancelled and holders shall neither receive nor retain any distribution under the plan. The plan will be funded through liquidation of FCC's collateral and creditor trust assets.

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