Budd Proposes Paying Asbestos Claims Through Insurance Coverage, 2 Funds
(October 19, 2015, 4:12 PM EDT) -- CHICAGO — Allowed asbestos claims against Chapter 11 debtor The Budd Co. Inc. will be paid by insurers and by two funds containing a total of $1 million, according to a plan of reorganization and plan disclosure statement filed Sept. 30 in Illinois federal bankruptcy court (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).