Rapid-American Shifts To Liquidation, Seeks OK For Disclosure Statement

(June 22, 2021, 12:21 PM EDT) -- NEW YORK — Chapter 11 debtor Rapid-American Corp. on June 4 filed a plan of liquidation with a $12 million asbestos trust, the plan’s disclosure statement and a motion to approve the disclosure statement, saying it provides “all material information that is reasonably practicable to permit an informed judgment” by creditors on whether to accept the plan....