Vertis Holdings, Inc. and 7 associated debtorsFN1 (the “Debtors”) filed voluntary petitions under Chapter 11 of the Bankruptcy Code on October 10, 2012 in the Bankruptcy Court for the District of Delaware (Case No. 12-12821). The Honorable Judge Christopher S. Sontchi has been assigned to the case. This initial note provides the Debtors’ consolidated list of their 30 largest unsecured creditors.

First day motions and other filings are available on the site for the Vertis bankruptcy being maintained by the claims agent, KCC.

The Debtors' Consolidated List of Holders of Largest Unsecured Claims

The Debtors' have requested authority to file a consolidated list of the holders of the Debtors' largest unsecured claims in lieu of a separate list for each of the Debtors. The consolidated list is set forth below. The Debtors' list did not identify any claims that were “Contingent, unliquidated, disputed, or subject to setoff”. Accordingly that column is omitted.

ListedName of creditorNature of claim
(trade debt, bank loan,
government contract, etc.)
Amount of claim
if secured, also the
value of the security
01  Pension Benefit Guaranty Corporation Pension BenefitNaN
02  Abitibi Bowater Trade Debt$19,444,844
03  Sun Chemical Corporation Trade Debt$18,660,065
04  Catalyst Paper Trade Debt$5,037,702
05  Valassis Direct Mail Media Payable Liability$2,766,489
06  OneMain Financial Direct Mail Postage Program$1,416,665
07  NewPage Corporation Trade Debt$1,194,247
08  Evergreen Packaging Trade Debt$922,146
09  Eastman Kodak Trade Debt$911,038
10  CBA Industries Media Payable Liability$868,352
11  ER Smith Associates Inc. Trade Debt$850,250
12  United Parcel Service Trade Debt$813,631
13  White Birch Paper Company Trade Debt$795,673
14  Norpac Paper Company Trade Debt$736,885
15  ALG Worldwide Logistics LLC Trade Debt$688,522
16  Boise White Paper LLC Trade Debt$643,397
17  NRTW Direct Mail Postage Program$636,549
18  Punch Graphix Americas Trade Debt$627,184
19  FedEx Freight East Trade Debt$604,209
20  Xpedx Trade Debt$548,810
21  The Washington Post Media Payable Liability$502,875
22  Chicago Tribune Media Payable Liability$489,302
23  Kruger Inc. Trade Debt$455,812
24  The Baltimore Sun Media Payable$445,942
25  SP Newsprint Co. Trade Debt$434,825
26  Futuremark Paper Trade Debt$433,148
27  Tembec Trade Debt$397,084
28  Sun Chemical Ltd. Canada Trade Debt$372,202
29  Verso Paper Trade Debt$358,646
30  Monroe Staffing Services Trade Debt$319,831

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The list does not include: (1) persons who come within the definition of “insider”); or (2) secured creditors, unless the value of the collateral is such that the unsecured deficiency places the creditor among the holders of the largest unsecured claims.

Bankruptcy Rule 1007(d) provides that a debtor shall file “a list containing the name, address and claim of the creditors that hold the 20 largest unsecured claims, excluding insiders.” Fed. R. Bankr. P. 1007(d). In the case of a multi-debtor filing, it is likely that many creditors are shared among certain of the debtors. This is especially the case where the debtors operate as a single business enterprise. Under these circumstances and provided that there is a request for joint administration, it is common for multiple, related debtors to request authority to file a single, consolidated list of their collective largest general unsecured creditors. These requests usually are granted by the bankruptcy court.

The Top Unsecured Creditor List is never to be considered a waiver of any defense to or “allowability” of a listed claim or an admission of the amount of any listed claim. It is common for the amount of the claims to shift and sometimes a claim that is initially is undisputed is later disputed. Creditors should always consult the official claims register.

FN1Vertis Holdings, Inc. 12-12821; Webcraft, LLC 12-12822; Vertis, Inc. 12-12823; Mail Efficiency, LLC 12-12824; Vertis Newark, LLC 12-12825; American Color Graphics, Inc. 12-12826; 5 Digit Plus, LLC 12-12827; and ACG Holdings, Inc. 12-12828