Former Boilermaker Enters 2nd Round Of Bankruptcy Due To Asbestos Claims

Mealey's (August 11, 2015, 11:08 AM EDT) -- CHICAGO — Defunct boiler manufacturer Oakfabco Inc. filed a voluntary Chapter 11 petition Aug. 7 in Illinois federal bankruptcy court, with plans to liquidate its assets, establish a multimillion dollar trust with insurance settlement proceeds to pay asbestos personal injury claims and then cancel its corporate existence (In re: Oakfabco, Inc., No. 15-27062, N.D. Ill. Bkcy.).

(Chapter 11 petition available. Document #48-150828-011X.)

33,000 Asbestos Claims

Frederick W. Stein, the president and only director of Oakfabco, says in a declaration filed Aug. 7 in support of the...
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