Judge Approves Owens Corning Plan

July 17, 2006 A federal judge on Monday approved Owens Corning’s plan for emerging from bankruptcy this fall, five years after seeking protection from creditors over health claims related to its asbestos products. Owens Corning sought Chapter 11 bankruptcy...

Judge OKs Owens Plan to Exit Bankruptcy

Judge Judith Fitzgerald, a federal bankruptcy judge, indicated from the bench that she approved of Owens Corning’s plan for emerging from bankruptcy. The plan has an effective date of Oct. 30, 2006. The reorganization plan, filed in December, 2005, follows more...

Owens Corning Plans to Exit Bankruptcy in 2006

$6.7bn settlement for asbestos victims 10 may 06 BUILDING products maker Owens Corning has agreed to a $5.2 billion  settlement of long-running claims for illnesses linked to asbestos, the company and lawyers for plaintiffs said. The deal is likely to be the biggest...

What Some Senators Have to Say About the FAIR ACT

The FAIR ACT was introduced onto the U.S. Senate floor early in 2006.  The Act would prohibit any lawsuit being filed to recover for any asbestos-related disease.  Instead, a trust fund would be set up.  One major problem with the trust fund concept is that none of...

Another asbestos company exits bankruptcy

ABB Ltd said no appeals had been filed by an end-March deadline against a reorganisation plan for its US unit CE, meaning the plan is final and effectively drawing a line under a damaging 16 year legal battle over asbestos compensation for the Swiss/Swedish...