Pfizer Boosts Quigley Asbestos Funds In New Ch. 11 Plan

Law360, New York (June 5, 2012, 4:31 PM EDT) -- Pfizer Inc. unit Quigley Co. unveiled a new reorganization plan Monday that would increase Pfizer’s payments toward an asbestos claims trust, responding to a New York bankruptcy judge’s criticism of the drug giant's limited role in a previous plan.

Quigley, which at one point made asbestos-laden insulation, filed a fifth amended Chapter 11 plan after U.S. Bankruptcy Judge Stuart M. Bernstein rejected the previous plan in September 2010. At the time, the judge said Pfizer had manipulated creditor votes and engineered the case to shed its...
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