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Congoleum Submits Amended Reorganization Plan

Law360 (August 16, 2006, 12:00 AM EDT) -- Congoleum Inc. has filed an amended plan of reorganization in its Chapter 11 proceedings, bringing the flooring company one step closer to exiting bankruptcy.

The amended plan brings an end to months of infighting over how to address the flood of asbestos-related personal-injury claims the company faces.

The company and its creditors had engaged in court-ordered mediation over the past two months in order to hammer out a plan acceptable to all parties.

“The plan we have just filed reflects the considerable progress we believe was...
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