Bondex Seeks Ch. 11 Protection From Asbestos Claims

Law360, New York (June 1, 2010, 6:58 PM EDT) -- Facing mounting liability over its asbestos products, Bondex International Inc. has filed for Chapter 11 protection and moved to shield its parent company, RPM International Inc., from derivative asbestos litigation during the bankruptcy proceedings.

Bondex and affiliate Specialty Products Holding Corp. filed their petition Monday in the U.S. Bankruptcy Court for the District of Delaware, citing assets and liabilities between $100 million and $500 million.

They also filed an adversary complaint against several plaintiffs seeking to hold RPM derivatively liable in asbestos injury litigation. The complaint...
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