Budd Co. Stay Extended For Work On Asbestos Cost-Sharing Agreement
Mealey's (April 14, 2016, 1:28 PM EDT) -- CHICAGO — An Illinois federal bankruptcy judge on April 1 extended the automatic stay in the Chapter 11 case of The Budd Co. Inc. to allow the debtor, its insurers and the asbestos claimants’ committee to work out the final details of a cost-sharing agreement to pay asbestos claims under Budd’s plan of reorganization (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).
(Automatic stay order available. Document #48-160422-012R.)
Also on April 1, U.S. Bankruptcy Judge Jack B. Schmetterer of the Northern District of...