Free Status Report - District Court of Delaware - Delaware

Case 1:06-cv-00735-SLR Document 16 Filed O3/19/2008 Page 1 of 3
IN THE UNITED STATES DISTRICT COURT
FOR THE DISTRICT OF DELAWARE
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RADNOR HOLDINGS :
CORPORATION, EE gl., :
Appellants, : Case No. 06-735 (SLR)
V. :
The Official Committee of :
Unsecured Creditors, :
Appellee. :
—------------- X
In re: : Chapter 11
RADNOR HOLDINGS : Case NO. 06-10894 (PJW)
CORPORATION, EE El., :
: Jointly Administered
Debtors. :
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STATUS REPORT WITH RESPECT TO APPEAL OF ORDER GRANTING
OFFICIAL COM ITTEE OF UNSECURED CREDITORS STANDING TO
PROSECUTE ACTIONS ON BEHALF OF THE DEBTORS' ESTATES
AGAINST TENNENBAUM CAPITAL PARTNERS, LLC, SPECIAL VALUE
EXPANSION FUND, LLC, SPECIAL VALUE OPPORTUNITIES FUND,
LLC; AND José E. FELICIANO AND RELATED RELIEF
This status report is submitted by the
appellants in the above-captioned appeal (the "Standing
Order Appeal"), Radnor Holdings Corporation and its
affiliates, each a chapter 11 debtor (collectively, the
“Debtors”).

Case 1:06-cv-00735-SLR Document 16 Filed O3/19/2008 Page 2 of 3
On November 13, 2007, the Official Committee
of Unsecured Creditors (the "Committee"), the appellee
in the Standing Order Appeal, was disbanded by the
Office of the United States Trustee due to the
resignation of all of the members of the Committee. No
committee of unsecured creditors has since that date
been formed by the Office of the United States Trustee.
The Debtors have continued to work with
Tennenbaum Capital Partners, LLC, Special Value
Expansion Fund, LLC, Special Value Opportunities Fund,
LLC, and Jose E. Feliciano (collectively, the
”Tennenbaum Lenders”) to resolve the issues raised in
the Standing Order Appeal and dismiss such appeal
through a plan of reorganization, the terms of which
have been negotiated in the bankruptcy cases. The
Debtors have filed a revised form of plan with the
United States Bankruptcy Court for the District of
Delaware and have scheduled a hearing on a disclosure
statement with respect to such plan for April 22, 2008,
at 10:00 a.m. The hearing on confirmation of such plan
is expected to occur on or about May 29, 2008.
2

Case 1:06-cv-00735-SLR Document 16 Filed O3/19/2008 Page 3 of 3
Accordingly, the Debtors respectfully
request that the District Court stay any further action
in this appeal pending the outcome of the plan
confirmation process. In the event that the Standing
Order Appeal is not resolved through the plan process,
the parties to the Standing Order Appeal shall notify
the Court promptly.
Dated: March 19, 2008
Wilmington, Delaware
Gregg;M. Galardi (I.D. No. 2991)
Mark L. Desgrosseilliers (I.D. No. 4083)
Sarah E. Pierce (I.D. No. 4648)
Skadden, Arps, Slate, Meagher & Flom LLP
One Rodney Square
P.O. Box 636
Wilmington, Delaware 19899-0636
(302) 651-3000
and
Timothy R. Pohl
Skadden, Arps, Slate, Meagher & Flom LLP
333 West Wacker Drive
Chicago, Illinois 60606
(312) 407—0700
Counsel for Debtors and
Debtors in Possession
3
526861.0l-Wilmington Server IA - MSW

Case 1 :06-cv—00735-SLR Document 16-2 Filed 03/19/2008 Page 1 of 1
CERTIFICATE OF SERVICE
I, Mark L. Desgrosseilliers, hereby certify that
on March 19, 2008, I caused the foregoing Status Report
with Respect to Appeal of Order Granting Official Committee
of Unsecured Creditors Standing to Prosecute Actions on
Behalf of the Debtors' Estates against Tennenbaum Capital
Partners, LLC, Special Value Expansion Fund, LLC, Special
Value Opportunities Fund, LLC, and José E. Feliciano and
Related Relief to be served on the parties set forth below
in the manner indicated:
Mark D. Collins, Esq. Donald Detweiler, Esq.
Russell C. Silberglied, Esq. Victoria Counihan, Esq.
Richards, Layton & Finger, P.A. GREENBERG TRAURIG LLP
One Rodney Square The Nemours Building
P.O. Box 551 1007 North Orange Street, Suite
Wilmington, Delaware 19899 1200
By Hand—Delivery Wilmington, Delaware 19801
By Hand-Delivery
Gregory A. Bray, Esq.
Fred Neufeld, Esq. Nancy A. Mitchell, Esq.
Milbank, Tweed, Hadley Nancy A. Peterman, Esq.
a McCloy LLP GREENBERG TRAURIG LLP
601 S. Figueroa St., 30th Floor 77 West Wacker Drive, Suite
Los Angeles, California 90017 2400
By Overnight Courier Chicago, Illinois 60601
By Overnight Courier
Zgrk Léesgrosseilliers
526867,01-Wilmington Server .l_A - MSW