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Pfizer Asks Judge To Reconsider Vote Dilution

Law360 (August 22, 2006, 12:00 AM EDT) -- Pfizer Inc. and its unit Quigley Co. have asked a federal judge to reconsider his recent decision to dilute the Chapter 11 plan votes of claimants who had previously agreed to reduce their asbestos claims.

U.S. Bankruptcy Judge Stuart Bernstein’s Aug. 9 decision to dilute the votes of those claimants resulted in Quigley’s reorganization plan not having enough creditor support to move forward.

He said their votes should be reduced by 90%.

Motions to reconsider, such as the one Pfizer and Quigley filed on Monday, are...
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