Former Boilermaker Enters 2nd Round Of Bankruptcy Due To Asbestos Claims
Mealey's (August 11, 2015, 11:08 AM EDT) -- CHICAGO — Defunct boiler manufacturer Oakfabco Inc. filed a voluntary Chapter 11 petition Aug. 7 in Illinois federal bankruptcy court, with plans to liquidate its assets, establish a multimillion dollar trust with insurance settlement proceeds to pay asbestos personal injury claims and then cancel its corporate existence (In re: Oakfabco, Inc., No. 15-27062, N.D. Ill. Bkcy.).