Owens Corning Shareholders Face Obstacles To Meeting

Law360, New York (March 2, 2006, 12:00 AM EST) -- Owens Corning shareholders are plowing ahead in their attempt to gain a voice in the fiberglass manufacturer’s long-standing bankruptcy case, asking a federal court to force a bankruptcy judge to rule on whether they can sue in state court to compel the company to hold its first annual shareholders meeting in more than five years.

Shareholders are eyeing legislation that, if passed by Congress, would lift billions of dollars in debt off the company’s shoulders, transferring it instead to a national asbestos trust.

The meeting would...
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