ACHRNEWS

AMPAM Announces Agreement On Reorganization Plan

July 2, 2004
ROUND ROCK, Texas - American Plumbing and Mechanical Inc. (AMPAM) announced that it has reached an agreement for a consensual plan of reorganization allowing the company to promptly emerge from Chapter 11 bankruptcy.

The company, which focuses primarily on residential plumbing, HVAC, and mechanical services, announced the agreement in open court between AMPAM's senior lenders and the Official Committee of Unsecured Creditors. AMPAM and its affiliates filed their respective voluntary petitions under Chapter 11 in the Bankruptcy Court for the Western District of Texas, San Antonio Division, on October 13, 2003.

"AMPAM is very pleased that an agreement has been reached with our senior lenders and [creditors] which will allow AMPAM to emerge from bankruptcy and close this chapter in our corporate history," stated Robert Christianson, AMPAM's chairman of the board and CEO. "This is the right result for our company, as well as our customers, vendors, employees, and creditors."

Publication date: 07/05/2004