Smurfit claims up from 40s to 60s in trading

During November, 902 claims were traded, according to reports filed with the country's bankruptcy courts. The aggregate face amount of the claims was $418 million.

Unsecured claims against Smurfit-Stone Container Corp. have risen in the secondary market from the low 40 percent range to the low to mid 60s in the last four to six weeks, according to SecondMarket Inc., which describes itself as the largest secondary market for illiquid assets.

Smurfit filed a reorganization plan on Dec. 1 calling for holders of $2.9 billion in unsecured claims against the operating company to receive the new common stock. The $15.8 million of traded Smurfit claims in November represented 21 percent in number although only 4 percent in amount of the total reported claims trades.