Maremont, Subsidiaries File For Bankruptcy With Prepackaged Asbestos Plan

(January 23, 2019, 11:34 AM EST) -- WILMINGTON, Del. — With the preapproval of 100 percent of asbestos claimants, a nonoperating subsidiary of commercial vehicle and industrial products maker Meritor Inc. filed a prepackaged Chapter 11 plan of reorganization on Jan. 22 in Delaware federal bankruptcy court, looking to resolve its asbestos liabilities through a Section 524(g) trust (In re:  Maremont Corporation, et al., No. 19-10118, D. Del. Bkcy.)....