Congoleum, Bondholders Sign On To New Plan

Law360, New York (February 8, 2008, 12:00 AM EST) -- Congoleum Corp., the official committee of its bondholders and a committee of asbestos claimants have all signed on to a reorganization plan for Congoleum, which was first proposed in mid-January by a representative of future claimants against the company.

An 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 claimants’ representative R. Scott Williams. The plan would allow the flooring company to emerge from bankruptcy without liability for existing or...
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