Paddock Files For Chapter 11 To Resolve Owens-Illinois’ Asbestos Liabilities

(January 7, 2020, 12:08 PM EST) -- WILMINGTON, Del. — Paddock Enterprises LLC on Jan. 6 became the latest corporate victim to using asbestos in products, with the company filing a Chapter 11 petition in Delaware federal bankruptcy court after a December restructuring of the world’s largest glass bottle manufacturer left it holding all asbestos liabilities from the parent’s production of thermal insulation products in the 1950s (In re Paddock Enterprises, LLC, No. 20-10028, D. Del. Bkcy.)....