Judge Shakes Head At Plans In Congoleum Case

Law360 (February 2, 2007, 12:00 AM EST) -- Bankrupt Congoleum Corp. is no closer to settling on a restructuring plan after a judge ruled that several competing reorganization plans in the flooring manufacturer’s bankruptcy case are “not confirmable as a matter of law.”

Several of Congoleum’s insurers, including Continental Casualty Co., Continental Insurance Co., First State Insurance Co. and Twin City Fire Insurance Co., had filed a motion for summary judgment denying the confirmation of Congoleum’s reorganization plan – the company’s tenth version – filed on Aug. 15.

Congoleum and its official committee of...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.