Pfizer Heaps Another $100M Onto Asbestos Trust

Law360, New York (June 13, 2007, 12:00 AM EDT) -- Hoping to stem the tide of growing criticism, Pfizer Inc. has earmarked another $100 million for the asbestos trust at the heart of a Chapter 11 case involving the pharmaceutical giant's former unit, Quigley Co.

After months of standstill, U.S. Bankruptcy Judge Stuart M. Bernstein indicated on Tuesday that he would hold a July 12 hearing on Quigley's disclosure statement, which outlines the Chapter 11 plan, in the wake of Pfizer's monetary pledge.

The move marks a rare instance of progress in a bankruptcy case that...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.