Budd Co.’s Plan, With 2 Funds For Asbestos Claims, Takes Effect
(August 25, 2016, 8:23 AM EDT) -- CHICAGO — The plan of reorganization for Chapter 11 debtor The Budd Co. Inc. took effect Aug. 1, sending all asbestos personal injury claims against Budd to two funds for resolution and payment, according to an Aug. 2 notice filed in an Illinois federal bankruptcy court (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).
(Notice of effective date available. Document #48-160826-021X.)
2 Asbestos Funds
Budd filed a voluntary Chapter 11 petition in March 2014 in the U.S. Bankruptcy Court for the Northern District...