Vertis Communications Announces Continued Momentum in Chapter 11 Case and Sale Process:
Vertis Holdings, Inc. today achieved the next key milestones in its Chapter 11 case and sale process by obtaining the Bankruptcy Court's approval of the procedures through which it will evaluate any competing offers for its businesses to ensure it receives the highest and best offer. The Court also issued final orders giving the Company access to $150 million in new financing obtained in conjunction with the filing as well as the authority to maintain its client programs, pay employees' wages and benefits and otherwise operate its business as usual. These motions had been approved on an interim basis on October 12, 2012.
