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Inland Fiber Group (IFG) is the successor of U.S. Timberlands Klamath Falls. Inland Fiber Group owned 167,000 acres of timberland and cutting rights on 68,000 acres of timberland in Oregon, east of the Cascade Range. IFG specialized in the growing of trees, the sale of logs and standing timber, and the sale of timberlands.
In 2006 the Company reached a settlement resolving all the claims in the outstanding litigation between the Company and certain other defendants, and the trustee under the indenture governing the $225 million principal amount of notes due 2007 issued by the Company. In accordance with the settlement agreement, the Company filed for relief under Chapter 11 of the U.S. Bankruptcy Code with the U.S. Bankruptcy Court in Delaware. The plan was approved in late 2006.
Cypress acted as financial advisor to Inland Fiber Group as successor to U.S. Timberlands in connection with its pre-packaged plan of reorganization.