Asbestos, Agent Orange Suits Send Co. Into Ch. 11

Law360, New York (November 25, 2008, 12:00 AM EST) -- Faced with a deluge of asbestos-related litigation, several dozen Agent Orange-related lawsuits stemming from the Vietnam War and environmental cleanup costs, T.H. Agriculture & Nutrition LLC has filed for Chapter 11 in a prepackaged bankruptcy case.

As of Aug. 31, the company had assets of $77.9 million and liabilities of $576.7 million, according to papers filed Monday in the U.S. Bankruptcy Court for the Southern District of New York.

According to court documents, the firm's 30 largest unsecured creditors all are law firms.

Chief Restructuring Officer...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.