Nearly All Asbestos Claimants Back New Quigley Ch. 11 Plan

Law360, New York (June 14, 2013, 3:00 PM EDT) -- Pfizer Inc.’s bankrupt unit Quigley Co. Inc. on Thursday submitted its fifth amended reorganization plan that will pay asbestos claimants in cash, rights to insurance proceeds and common stock, but a small group of claimants still argue that the plan is unbalanced.

The company is confident that this plan will be the key to ending its eight-year bankruptcy despite the remaining objection. Quigley said in court documents that it has the support of more than 95 percent of claimants who haven’t already settled.

“The court should...
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