News

ABB asbestos claims in U.S. resolved

ABB is a Swiss engineering group. ABB?s U.S. subsidiary is Lummus Global. Lummus made industrial boilers lined with asbestos, which can cause cancer and other diseases. Lummus filed for Chapter 11 bankruptcy protection earlier this year to give it a chance to settle...

Several Creditors Approve OWENS CORNING?S Plan

Owens Corning filed for Chapter 11 protection on Oct. 5, 2000, because of mounting asbestos-liability claims. OC made a product containing asbestos, and workers who used the products developed illnesses, including mesothelioma, and have sued for damages. When the...

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...