Dunn Paper’s Second-Lien Lenders Tap Proskauer and Seek a Sale

Second-lien lenders to Dunn Paper are tapping restructuring experts as they urge the company pursue options including a sale, according to people with knowledge of the matter.

The lender group is getting legal advice from Proskauer Rose and looking to add a restructuring banker, said the people, who asked not to be named because discussions are private. The specialty paper and packaging company missed interest payments on its term loans last month and has received forbearance through May 15, according to Moody’s Investors Service.

Dunn Paper and its private equity sponsor Arbor Investments didn’t respond to requests seeking comment. Proskauer ...