Owens Corning Seeks Revision Of Letter Against Plan

Law360, New York (August 4, 2006, 12:00 AM EDT) -- Taking steps to intervene in a New York investor’s plan to call on all bondholders to reject the company’s reorganization plan, Owens Corning has asked a bankruptcy court to revise what it claims is a materially misleading letter.

Hedge fund Schultze Asset Management LLC wants bondholders to receive a warning along with their plan ballots, in hopes of persuading them to reject Owens Corning’s Chapter 11 plan.

On Thursday in the U.S. Bankruptcy Court for the District of Delaware, attorneys for the fiberglass maker cautioned bondholders...
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