With Backing Of Asbestos Claimants, Budd Co.’s Plan Confirmed
(July 11, 2016, 3:27 PM EDT) -- CHICAGO — An Illinois federal bankruptcy judge on June 27 confirmed the plan of reorganization for Chapter 11 debtor The Budd Co. Inc. after 866 asbestos personal injury claimants who had previously rejected the plan changed course and voted to accept it (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).
(Confirmation order available. Document #48-160715-005R.)
2 Asbestos Funds
Budd filed a voluntary Chapter 11 petition in March 2014 in the U.S. Bankruptcy Court for the Northern District of Illinois, citing environmental and asbestos...