SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* JMB Capital Partners Master Fund L.P. (Last) (First) (Middle) C/O SMITHWOOD ADVISERS, L.P. 1999 AVENUE OF THE STARS, SUITE 2040 (Street) LOS ANGELES CA 90067 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol AEP INDUSTRIES INC [ AEPI ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director X 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 01/18/2008
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person X Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/18/2008		P		2,000	A	$29	1,031,200	I	See Footnotes(1)(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person* JMB Capital Partners Master Fund L.P. (Last) (First) (Middle) C/O SMITHWOOD ADVISERS, L.P. 1999 AVENUE OF THE STARS, SUITE 2040 (Street) LOS ANGELES CA 90067 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Smithwood Partners LLC (Last) (First) (Middle) 1999 AVENUE OF THE STARS SUITE 2040 (Street) LOS ANGELES CA 90067 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* BROOKS JONATHAN (Last) (First) (Middle) 1999 AVENUE OF THE STARS SUITE 2040 (Street) LOS ANGELES CA 90067 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Smithwood Advisers, L.P. (Last) (First) (Middle) 1999 AVENUE OF THE STARS SUITE 2040 (Street) LOS ANGELES CA 90067 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

1. Name and Address of Reporting Person* Smithwood General Partner, LLC (Last) (First) (Middle) 1999 AVENUE OF THE STARS SUITE 2040 (Street) LOS ANGELES CA 90067 (City) (State) (Zip) Relationship of Reporting Person(s) to Issuer Director X 10% Owner Officer (give title below) Other (specify below)

Explanation of Responses:

1. These shares are owned directly by JMB Capital Partners Master Fund, L.P. (the "Master Fund"). Smithwood Partners LLC ("Partners LLC") is the General Partner of the Master Fund and Jonathan Brooks ("Brooks") is the Managing Member of Partners LLC. In addition, Smithwood Advisers, L.P. ("Advisers") is the Investment Adviser to the Master Fund. The General Partner of Advisers is Smithwood General Partner, LLC ("General Partner LLC") and Brooks is the Managing Member of General Partner LLC.

2. Each of Partners LLC, Advisers, General Partner LLC and Brooks, by virtue of their relationships to the Master Fund may be deemed to indirectly beneficially own (as that term is defined in Rule 13d-3 of the Securities Exchange Act of 1934) the shares directly owned by the Master Fund. Each of Partners LLC, Advisers, General Partner LLC and Brooks disclaim beneficial ownership of those securities in which they do not have a pecuniary interest and this report shall not be deemed an admission that they are the beneficial owner of these securities for purposes of Section 16, except to the extent of their pecuniary interest.

Remarks:

	/s/JMB Capital Partners Master Fund, L.P., By: Smithwood Partners, LLC, General Partner, By: Jonathan Brooks, Managing Member	01/18/2008
	/s/Smithwood Partners, LLC, By: Jonathan Brooks, Managing Member	01/18/2008
	/s/Smithwood Advisers, L.P., By: Smithwood General Partner, LLC, General Partner, By: Jonathan Brooks, Managing Member	01/18/2008
	/s/Smithwood General Partner, LLC, By: Jonathan Brooks, Managing Member	01/18/2008
	/s/ Jonathan Brooks	01/18/2008
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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