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* Files Chapter 11 plan and disclosure statement

* Plans to sell Canadian assets

* To seek listing of new common stock

(Writes through, adds detail)

Dec 1 (Reuters) – Bankrupt corrugated packaging maker
Smurfit-Stone Container Corp (SSCCQ.PK) filed a Chapter 11 plan
and disclosure statement in a Delaware bankruptcy court early on
Tuesday, court papers showed.

The plan, which provides for the company to sell its
Canadian assets, has to be approved by claimholders before it
can be confirmed by the court.

In court papers, the company said it will use “commercially
reasonable efforts” to list its new common stock on the NYSE or
Nasdaq.

Smurfit-Stone said its total assets had a net book value of
about $5.28 billion and total debt of about $6.6 billion as of
Sept. 30, 2009.

The company’s U.S. and Canadian operations filed for Chapter
11 bankruptcy protection in January, hurt by declining packaging
demand.

Smurfit-Stone, which makes pizza boxes, “clamshell” packages
for the food industry and pulp for shopping bags, is one of the
largest U.S. corrugated packaging makers.
(Reporting by Santosh Nadgir in Bangalore; Editing by David
Holmes)
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