Pittsburgh Corning, Insurers Agree To Drop Appeals In 3rd Circuit
(January 8, 2016, 11:40 AM EST) -- PHILADELPHIA — The last challenge to the bankruptcy reorganization of glass and insulation maker Pittsburgh Corning Corp. (PCC) ended Jan. 7 when the Third Circuit U.S. Court of Appeals dismissed appeals of two insurers after the insurers told the court they had “resolved certain claims” with one of the debtor’s parent companies (Mt. McKinley Insurance Company, et al. v. Pittsburgh Corning Corporation, Nos. 15-2954, 14-4329, 3rd Cir.).
(Order available. Document #48-160129-004R.)
The dismissal clears the way for PCC’s reorganization plan, which includes a $3 billion trust...