New Congoleum Plan Would Pass Liability To Trust

Law360, New York (January 22, 2008, 12:00 AM EST) -- The future claimants' representative in Congoleum Corp.'s Chapter 11 proceedings has filed an amended restructuring plan that would allow the flooring company to emerge from bankruptcy without liability for existing or future asbestos claims.

The amended Chapter 11 plan and disclosure statement were filed in the U.S. Bankruptcy Court for the District of New Jersey on Jan. 17 by future claimant's representative R. Scott Williams. A hearing on the adequacy of the disclosure statement is slated for Feb. 14.

Congoleum's plan calls for the creation of...
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