Victims of asbestos will receive $5.2 billion as part of a settlement with Owens Corning, the world's largest maker of insulation products. Creditors will also receive $2.5 billion, which will allow the company to emerge from bankruptcy. Other companies such as W.R. Grace, Federal Mogul Corp, and USG Corp. have also filed for Chapter 11 in order to wipe out their asbestos liabilities. Bloomberg, Bloomberg 05/11/2006 Read Article: Bloomberg Thursday, May 11, 2006
Good guys win: Owens Corning to Resolve Billions in Asbestos Claims
Victims of asbestos will receive $5.2 billion as part of a settlement with Owens Corning, the world's largest maker of insulation products. Creditors will also receive $2.5 billion, which will allow the company to emerge from bankruptcy. Other companies such as W.R. Grace, Federal Mogul Corp, and USG Corp. have also filed for Chapter 11 in order to wipe out their asbestos liabilities. Bloomberg, Bloomberg 05/11/2006 Read Article: Bloomberg 
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