Summary
TOLEDO, Ohio (HedgeWorld.com) - Owens Corning announced an agreement in principle with the representatives of each of its key creditor groups on the terms of a Chapter 11 plan of reorganization.
The Owens Corning bankruptcy, filed in October 2000, is closely watched not only for its Jarndyce-like intricacy and intrinsic importance, but as a possible bellwether for other asbestos-claims- related bankruptcies, especially since a global legislative settlement has repeatedly foundered in recent years - most recently, a bill to this effect was shelved in February when its sponsors couldn't muster the votes needed to close Senate debate.See the full content of this document
Extract
Role for D.E. Shaw in Owens Corning Deal
Other major U.S. corporations that have sought the protection of the bankruptcy courts, largely due to the mass tort claims arising from asbestos, include Armstrong Worl...
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