Fifth Time the Charm?
This article from Bloomberg details the (latest) new and improved bankruptcy reorganization plan for Owens Corning.
This is now OC's fifth try at gaining approval for a plan to pay off thousands of asbestos claims which forced the company into bankruptcy in October of 2000.
As the article points out some observers are hopeful that a solution may finally be at hand:
"This plan may be the final road map for resolving all the mega-asbestos bankruptcies being heard in Delaware...Everyone will be cheering if this gets approved.''
For more specific details on the plan see this article.
...and from a similiar story see this press release for information on the rejection of Armstrong World Industries' Reorganization Plan by the U.S. 3rd Circuit Court of Appeals.
This is now OC's fifth try at gaining approval for a plan to pay off thousands of asbestos claims which forced the company into bankruptcy in October of 2000.
As the article points out some observers are hopeful that a solution may finally be at hand:
"This plan may be the final road map for resolving all the mega-asbestos bankruptcies being heard in Delaware...Everyone will be cheering if this gets approved.''
For more specific details on the plan see this article.
...and from a similiar story see this press release for information on the rejection of Armstrong World Industries' Reorganization Plan by the U.S. 3rd Circuit Court of Appeals.
posted by David Stone | 4:39 PM
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