After 12 failed attempts at a Chapter 11 reorganization plan that would set up a trust for tens of thousands of asbestos claims against Congoleum, a federal judge has reinstated the case and, in an unusual step, has withdrawn it from the bankruptcy court so he can handle the confirmation process himself. A bankruptcy judge dismissed the Chapter 11 case earlier this year, fed up over the proponents' failures to address concerns about unequal treatment of claimants and $2 million in fees for claimants' lawyers.
Federal Judge Revives Congoleum Bankruptcy, and Takes Over Case
New Jersey Law Journal
August 19, 2009