Exhibit 5.1
One Atlantic Center
1201 West Peachtree Street
Atlanta, Georgia 30309-3424
404-881-7000
Fax: 404-881-7777
www.alston.com
May 25, 2010
Graphic Packaging Holding Company
Graphic Packaging International, Inc.
The Guarantors listed on Schedule A
814 Livingston Court
Marietta, GA 30067
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Re: |
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Registration Statement on Form S-3 (No. 333-166324) |
Ladies and Gentlemen:
We have acted as counsel to Graphic Packaging Holding Company, a Delaware corporation
(the Company), Graphic Packaging International, Inc., a Delaware corporation
(GPII), and the other guarantors of Debt Securities (as defined herein) listed on
Schedule A (the Guarantors) in connection with the filing of the above-referenced
Registration Statement on Form S-3 (the Registration Statement) to be filed on the date
hereof by the Company with the Securities and Exchange Commission (the Commission) under
the Securities Act of 1933, as amended (the Securities Act).
This opinion is being furnished pursuant to Item 16 of Form S-3 and Item 601(b)(5) of
Regulation S-K under the Securities Act.
The Registration Statement relates to the proposed issuance and sale from time to time
pursuant to Rule 415 under the Securities Act of the following securities (the Registered
Securities): (i) shares of common stock, par value $0.01 per share of the Company
(Common Stock); (ii) shares of preferred stock, par value $0.01 per share of the Company
(Preferred Stock); (iii) senior or subordinated debt securities of the Company and GPII
(the Debt Securities); (iv) guarantees (the Guarantees) of Debt Securities
issued by the Guarantors; (v) depositary shares representing receipts for fractional interests in
the Preferred Stock (the Depositary Shares); (vi) warrants to purchase any of the
securities of the Company described in clauses (i), (ii), (iii) and (v) (collectively, the Warrants);
(vii) purchase contracts of the Company or GPII, as applicable obligating holders to purchase a
specified or varying number of any of the securities which the Company or GPII may sell under the
prospectus included in the Registration Statement (the Prospectus) at a future date or
dates (the Purchase Contracts); and (viii) units comprised of one or more of the other
securities that the Company or GPII may offer under the Prospectus, in any combination (the
Units).
Atlanta Charlotte Dallas Los Angeles New York Research Triangle Silicon Valley Ventura County Washington, D.C.
Graphic Packaging Holding Company
Graphic Packaging International, Inc.
May 25, 2010
Page 2
Each series of Debt Securities will be issued pursuant to an indenture, the forms of which are
filed as exhibits to the Registration Statement (collectively, as amended or supplemented from time
to time, the Indentures) relating to Debt Securities between the Company or GPII, as
applicable and a trustee (the Trustee) to be entered into at or before the time of such
offering. Any Guarantees will be issued pursuant to a supplemental indenture or notation of
guarantee, which will be filed as a post-effective amendment to the Registration Statement or as an
exhibit to a document filed under the Exchange Act and incorporated into the Registration Statement
by reference. Each of the Depositary Shares will be deposited pursuant to a deposit agreement
substantially in the form filed as an exhibit to a post-effective amendment to the Registration
Statement or as an exhibit to a document filed under the Exchange Act and incorporated into the
Registration Statement by reference (a Deposit Agreement). Each Warrant will be issued
pursuant to a warrant agreement substantially in the form that will be filed as an exhibit to a
post-effective amendment to the Registration Statement or as an exhibit to a document filed under
the Exchange Act and incorporated into the Registration Statement by reference (a Warrant
Agreement). Each Purchase Contract will be issued pursuant to a purchase contract
substantially in the form that will be filed as an exhibit to a post-effective amendment to the
Registration Statement or as an exhibit to a document filed under the Exchange Act and incorporated
into the Registration Statement by reference. Each Unit will be issued pursuant to a unit
agreement substantially in the form that will be filed as an exhibit to a post-effective amendment
to the Registration Statement or as an exhibit to a document filed under the Exchange Act and
incorporated into the Registration Statement by reference (a Unit Agreement).
We have examined the Restated Certificate of Incorporation of the Company; the Amended and
Restated Bylaws of the Company; records of proceedings of the Board of Directors of the Company,
GPII and the Guarantors; the proposed forms of the Indentures; the Registration Statement; the
charter or other applicable formation documents of the Guarantors; and the bylaws or other
comparable governing documents of the Guarantors. We also have made such further legal and factual
examinations and investigations as we deemed necessary for purposes of expressing the opinions set
forth herein. In our examination, we have assumed the genuineness of all signatures, the legal
capacity of all natural persons, the authenticity of all documents submitted to us as original
documents and the conformity to original documents submitted to us as certified, conformed,
facsimile, electronic or photostatic copies.
As to certain factual matters relevant to this opinion letter, we have relied conclusively
upon originals or copies, certified or otherwise identified to our satisfaction, of such records,
agreements, documents and instruments, including certificates or comparable documents of officers
of the Company and of public officials, as we have deemed appropriate as a basis for the opinions
hereinafter set forth.
Our opinions set forth below are limited to the General Corporation Law of the State of
Delaware, applicable provisions of the Constitution of the State of Delaware and reported judicial
decisions interpreting such General Corporation Law and Constitution and, solely with
Graphic Packaging Holding Company
Graphic Packaging International, Inc.
May 25, 2010
Page 3
respect to whether or not the Debt Securities, Guarantees, Depositary Shares, Warrants, Purchase
Contracts or Units are the valid and binding obligations of the Company, the laws of the State of
New York. We do not express any opinion herein concerning any other laws. Our opinions set forth
in paragraphs 3, 4, 5, 6, 7 and 8 are subject to the effects of (i) bankruptcy, insolvency,
fraudulent conveyance, reorganization, moratorium and other similar laws relating to or affecting
creditors rights generally; (ii) general equitable principles (whether considered in a proceeding
in equity or at law); and (iii) an implied covenant of good faith and fair dealing.
This opinion letter is provided for your use solely in connection with the filing of the
Registration Statement and may not be used, circulated, quoted or otherwise relied upon for any
other purpose without our express written consent. No opinion may be implied or inferred beyond
the opinions expressly stated in the numbered paragraphs below. Our opinions expressed herein are
as of the date hereof, and we undertake no obligation to advise you of any changes in applicable
law or any other matters that may come to our attention after the date hereof that may affect our
opinions expressed herein.
Based upon the foregoing and subject to the limitations, qualifications, exceptions and
assumptions set forth herein, it is our opinion that:
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When, as and if (a) appropriate corporate action has been taken to authorize the issuance of
Common Stock; (b) any legally required consents, approvals, authorizations and other orders of
the Commission and any other regulatory authorities are obtained; (c) Common Stock has been
duly issued and delivered by the Company against payment therefor in accordance with such
corporate action, and; (d) certificates representing shares of Common Stock have been duly
executed by the duly authorized officers of the Company in accordance with applicable law or,
if uncertificated, valid book-entry notations have been made in the share register of the
Company, then, upon the happening of such events, such Common Stock will be validly issued,
fully paid and non-assessable (provided that the consideration paid therefor is not less than
the par value thereof). |
2. |
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When, as and if (a) appropriate corporate action has been taken to authorize the issuance of
Preferred Stock, to fix the terms thereof and to authorize the execution and filing of a
certificate of designation relating thereto with the Secretary of State of the State of
Delaware; (b) such certificate of designation has been executed by duly authorized officers of
the Company and so filed by the Company, all in accordance with the laws of the State of
Delaware; (c) any legally required consents, approvals, authorizations and other orders of the
Commission and any other regulatory authorities are obtained; (d) Preferred Stock with terms
so fixed has been duly issued and delivered by the Company against payment therefor in
accordance with such corporate action; and (e) certificates representing shares of Preferred
Stock have been duly executed by the duly authorized officers of the Company in accordance
with applicable law or, if uncertificated, valid book-entry notations have been made in the
share register of the Company, then, upon the happening of such events, such Preferred Stock
will be validly
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Graphic Packaging Holding Company
Graphic Packaging International, Inc.
May 25, 2010
Page 4
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issued, fully paid and non-assessable (provided that the consideration paid therefor is not
less than the par value thereof). |
3. |
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When, as and if (a) the appropriate corporate action has been taken by the Company or GPII,
as applicable to authorize the form, terms, execution and delivery of any series of the Debt
Securities; (b) the Debt Securities have been issued in the form and containing the terms set
forth in the Registration Statement, the Indentures and such corporate action; (c) any legally
required consents, approvals, authorizations and other orders of the Commission and any other
regulatory authorities are obtained; and (d) the Debt Securities have been authenticated by
the Trustee and delivered to the purchasers thereof upon payment of the agreed upon
consideration therefor, then, upon the happening of such events, the Debt Securities will be
validly issued and will constitute valid and binding obligations of the Company or GPII, as
applicable, enforceable against the Company or GPII, as applicable, in accordance with their
terms. |
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When, as and if (a) the terms of the Debt Securities and of their issuance and sale have been
duly established by the Company or GPII, as applicable and the Debt Securities have been duly
executed and authenticated and delivered to the purchasers thereof upon payment of the agreed
upon consideration therefore, (b) the appropriate corporate action has been taken by the
Guarantors to authorize the form, terms, execution and delivery of the Guarantees, and (c) the
Guarantees with such terms are fully executed, attested, issued and delivered by duly
authorized officers of the Guarantors against payment in the manner provided for in the
Indentures, the Debt Securities or Guarantees, as applicable, and such corporate action, then,
upon the happening of such events, such Guarantees will be validly issued and will constitute
valid and binding obligations of the Guarantors, enforceable against the Guarantors in
accordance with their terms. |
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When, as and if (a) the appropriate corporate action has been taken by the Company to
authorize the form, terms, execution and delivery of a Deposit Agreement (including a form of
receipt evidencing the Depositary Shares); (b) Depositary Shares with such terms are duly
executed, attested, issued and delivered by duly authorized officers of the Company and the
depositary appointed by the Company; (c) the shares of Preferred Stock underlying such
Depositary Shares have been duly and validly issued and are fully paid and nonassessable as
contemplated in paragraph 2 above and deposited with a bank or trust company (which meets the
requirements for a depositary set forth in the Registration Statement) under the applicable
Deposit Agreement; and (d) the depositary receipts representing the Depositary Shares have
been duly executed, countersigned, registered and delivered in accordance with the appropriate
Deposit Agreement and the applicable definitive purchase, underwriting or similar agreement
approved by the Company upon payment of the consideration therefor provided for therein, then,
upon the happening of such events and receipt by the Company of such lawful consideration as
the Companys Board of Directors (or an authorized committee thereof) may determine, such
Depositary
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Graphic Packaging Holding Company
Graphic Packaging International, Inc.
May 25, 2010
Page 5
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Shares will be validly issued and will constitute valid and binding obligations of the
Company, enforceable against the Company in accordance with their terms. |
6. |
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When, as and if (a) the appropriate corporate action has been taken by the Company to authorize the form, terms, execution and delivery of a Warrant Agreement
(including a form of certificate evidencing the Warrants) and (b) Warrants with such terms are
duly executed, attested, issued and delivered by duly authorized officers of the Company against payment in the manner provided for in the applicable Warrant
Agreement and such corporate action, then, upon the happening of such events, such Warrants
will be validly issued and will constitute valid and binding obligations of the Company
enforceable against the Company in accordance
with their terms. |
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When, as and if (a) the appropriate corporate action has been taken by the Company or GPII,
as applicable, to authorize the form, terms, execution and delivery of a Purchase Contract
(including a form of certificate evidencing the Purchase Contracts) and (b) the Purchase
Contracts with such terms are duly executed, attested, issued and delivered by duly authorized
officers of the Company or GPII, as applicable, against payment in the manner provided for in
the Purchase Contract and such corporate action, then, upon the happening of such events, such
Purchase Contracts will be validly issued and will constitute valid and binding obligations of
the Company or GPII, as applicable, enforceable against the Company or GPII, as applicable, in
accordance with their terms. |
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When, as and if (a) the appropriate corporate action has been taken by the Company or GPII,
as applicable, to authorize the form, terms, execution and delivery of a Unit Agreement
(including a form of certificate evidencing the Units) and (b) the Units with such terms are
duly executed, attested, issued and delivered by duly authorized officers of the Company or
GPII, as applicable, against payment in the manner provided for in the Unit Agreement and such
corporate action, then, upon the happening of such events, such Units will be validly issued
and will constitute valid and binding obligations of the Company or GPII, as applicable,
enforceable against the Company or GPII, as applicable, in accordance with their terms. |
We consent to the filing of this opinion letter as an exhibit to the Registration Statement
and to the use of our name under the heading Legal Matters in the Prospectus constituting a part
thereof. In giving such consent, we do not thereby admit that we are within the category of
persons whose consent is required under Section 7 of the Securities Act or the rules and
regulations of the Commission thereunder.
Graphic Packaging Holding Company
Graphic Packaging International, Inc.
May 25, 2010
Page 6
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ALSTON & BIRD LLP
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By: |
/s/ JUSTIN R. HOWARD
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Justin R. Howard |
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A Partner |
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Graphic Packaging Holding Company
Graphic Packaging International, Inc.
May 25, 2010
Page 7
Schedule A
Subsidiary Guarantors
Bluegrass Container Canada Holdings, LLC
Bluegrass Flexible Packaging Company, LLC
Bluegrass Labels Company, LLC
Bluegrass Multiwall Bag Company, LLC
Field Container Queretaro (USA), L.L.C.
Graphic Packaging Corporation
Graphic Packaging Flexible Holdings, LLC
Handschy Holdings, LLC
Handschy Industries, LLC
Riverdale Industries, LLC