Asbestos Personal Injury Claimants Reject Budd’s Plan Of Reorganization

(June 23, 2016, 1:21 PM EDT) -- CHICAGO — Asbestos claimants were the only class to reject the proposed Chapter 11 plan of reorganization for debtor The Budd Co. Inc., voting 958-696 against the plan, despite a recommendation to approve the plan by the official asbestos claimants’ committee, according to a balloting report filed June 20 in Illinois federal bankruptcy court (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).

(Declaration available. Document #48-160624-020X. Vote tabulation summary available. Document #48-160624-021X.)

58 Percent Against

Budd filed a voluntary Chapter 11 petition in...
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