Congoleum Insurers File Rival Chapter 11 Plan
The company’s insurers, including Continental Casualty Co., and Continental Insurance Co., along with its bondholders, filed their plan last Friday, in response to Congoleum’s Aug. 15 filing.
The insurers’ plan would set up a trust containing 800,000 shares of the reorganized company’s common stock and all of the eventual proceeds from the asbestos insurance litigation.
While the insurers’ plan has...
To view the full article, register now.