Court approves Federal-Mogul reorganisation plan
Southield, Michigan -Â The US Bankruptcy Court has confirmed Federal-Mogul Corp.'s reorganisation plan to help the firm emerge from Chapter 11 bankruptcy.
The next step for Federal-Mogul is to receive plan approval from the US District Court before it is able to emerge from bankruptcy.
Federal-Mogul filed for Chapter 11 in 2001 to separate its asbestos liabilities from its operating costs, according to the company.
From Rubber & Plastics News (A Crain publication)
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