IRS, Trustee Object To Owens Corning's Chapter 11 Plan

Law360, New York (September 5, 2006, 12:00 AM EDT) -- A spate of objections has peppered the docket of Owens Corning’s Chapter 11 case in recent days, as a Sept. 18 confirmation hearing on the bankrupt fiberglass maker’s reorganization plan approaches.

In the past week, at least 15 objections have been filed regarding Owens Corning’s proposed restructuring plan, by parties including the Internal Revenue Service, the U.S. Department of Labor and the U.S. Trustee overseeing Owens Corning’s Chapter 11 proceedings.

Owens Corning spokesperson Jason Saragian took the objections in stride, noting that the reorganization plan had...
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