PPG Plans $825M Trust For Asbestos Claims

Law360, New York (January 30, 2009, 12:00 AM EST) -- Roughly nine years after asbestos personal injury claims drove Pittsburgh Corning Corp. into Chapter 11, the company, half-owned by PPG Industries, has filed an amended plan of reorganization proposing the creation of an $825 million trust to settle liability claims.

Under the third amended plan, filed Thursday in the U.S. Bankruptcy Court for the Western District of Pennsylvania, all current and future personal injury claims against PPG alleging harm from exposure to asbestos-containing products manufactured, distributed or sold by Pittsburgh Corning will be channeled to the...
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