NE Opco Inc., the largest closely held envelope maker in North America, reached a settlement with creditors and lenders that will allow for a consensual ride through the bankruptcy process, Bloomberg News reported on Friday. The envelope maker was set to seek court approval at a hearing on Friday to obtain access to the final $7.5 million of a $67.5 million bankruptcy loan. Instead, the company announced that it had reached an agreement on how the bankruptcy will proceed, gaining the support of the official unsecured creditors committee. NE Opco will return to court on July 19 to seek approval of the settlement and final amount of financing.
