Langston Corporation

Client Profile
Langston Corporation (‘Langston’ or the ‘Company’), Debtor-in-Possession, is a leading manufacturer of machinery and equipment that converts paper into corrugated board and prints and finishes paperboard.
Situation
Langston filed for bankruptcy as a result of depressed industry conditions, following a decrease in the price of copper and a pursuant arrest in the purchase of capital equipment by the major integrated paper companies.
Solution
SSG sold Langston through a 363 auction generating more than 12 bids above the platform bid resulting in a 50% increase in net proceeds to the estate.