Judge Rejects Owens Corning Shareholders’ Plea

Law360, New York (February 21, 2006, 12:00 AM EST) -- Delivering a devastating blow, a federal bankruptcy judge has rejected an ad hoc group of Owens Corning shareholders’ request for official representation in the fiberglass manufacturer’s long-standing bankruptcy case.

Judge Judith K. Fitzgerald of the U.S. Bankruptcy Court in Delaware denied the ad hoc group's motion on Monday, rejecting the party’s claim that its interests could be overlooked amid Owens Cornings’ “mad rush to exit Chapter 11.”

In her decision, Fitzgerald sided with the U.S. Trustee's office, Credit Suisse, Cayman Islands Branch, the official committee of...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.