Pfizer Unit Wants $65M More For Asbestos Ch. 11

Law360, New York (August 1, 2011, 8:28 PM EDT) -- Pfizer Inc. subsidiary Quigley Co. on Friday asked a New York bankruptcy judge to extend its debtor-in-possession funding for another six months and to bump up the limit to $65 million as it closes in on a reorganization plan with asbestos claimants.

Entering Chapter 11 roughly seven years ago, Quigley, Pfizer’s former insulation business, said it needs more time and money, up to $65 million in cash from Pfizer, to iron out the plan and establish the trust for personal injury claims.

“Quigley now seeks to...
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