Budd Statement OK’d; Asbestos Committee Says Plan Should Be Approved

Mealey's (May 10, 2016, 11:16 AM EDT) -- CHICAGO — An Illinois federal bankruptcy judge on May 6 approved the disclosure statement for the reorganization plan of Chapter 11 debtor The Budd Co. Inc., finding that the debtor has provided sufficient information in the statement to allow holders of claims, including asbestos personal injury claims, to make an informed decision when voting whether to accept or reject the plan (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).

(Disclosure statement order available. Document #48-160527-008R.)

The disclosure statement order followed the approval on...
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