Congoleum, Wachovia Ask To Extend DIP Agreement

Law360, New York (November 4, 2009, 2:19 PM EST) -- Bankrupt flooring company Congoleum Corp. has asked a judge to extend its debtor-in-possession financing agreement with Wachovia Bank NA through the end of June 2010 while it seeks approval of a bankruptcy plan that would resolve thousands of asbestos claims.

Congoleum filed a motion to approve the new DIP agreement with Wachovia on Tuesday in the U.S. District Court for the District of New Jersey. It said that while it did not believe the changes it asked for required court approval, it was asking for it...
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