Owens Corning Wins Reorganization Plan Approval

Law360, New York (September 27, 2006, 12:00 AM EDT) -- A federal judge has approved bankrupt building products maker Owens Corning’s reorganization plan, giving the company the green light to emerge from Chapter 11 protection.

Judge Judith Fitzgerald of the U.S. Bankruptcy Court for the District of Delaware approved the plan on Tuesday, one week after she indicated in court that she intended to do so.

“We are pleased to have court approval on a plan that deals fairly and equitably with all our creditors and permanently resolves our asbestos liability,” Dave Brown, president and chief...
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