Oct. 1

The National Recycling Coalition’s board of directors has suspended its vote to file Chapter 7 bankruptcy while other options are explored, giving the organization a new chance at viability.

Mark Lichtenstein, former president of the NRC, said members of the board of directors voted unanimously Sept. 29 to suspend its earlier vote for Chapter 7 for 30 days. During that time current president Melinda Uerling will be able to enlist the aid of a committee to help develop a reorganization plan for the agency, Lichtenstein said.

The board is expected to reassess the situation Oct. 29, Lichtenstein said. It is hoped the NRC will be able to negotiate with creditors and develop a reorganization plan outside of bankruptcy court, he added.

Contact Waste & Recycling News reporter Amanda Smith-Teutsch at 330-865-6166 or asmith-teutsch@crain.com

w w w . w a s t e r e c y c l i n g n e w s . c o m

copyright 2009 by Crain Communications Inc. All rights reserved.