Budd Co. Hikes Funding For Uninsured Asbestos Claims; Committee Says No FCR Needed

Mealey's (March 23, 2016, 10:39 AM EDT) -- CHICAGO — With Chapter 11 debtor The Budd Co. Inc. agreeing to increase funding to pay uninsured asbestos claims in its latest proposed plan of reorganization by at least 1,400 percent, a representative for future claimants is not needed in the case, according to the Official Committee of Asbestos Personal Injury Claimants, which says in a March 18 motion to dispense with the appointment of a future claimants’ representative (FCR) that it sufficiently represents the interests of all asbestos claimants (In re: The Budd Company, Inc.,...
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