2 months ago
The descendant of a once-leading tire and rubber company, Uniroyal Holding Inc., is winding up its operations, and its iconic brand name will soon disappear as a functioning entity.
Uniroyal Holding Inc., which was a subsidiary of the former Uniroyal tire company, filed for Chapter 11 bankruptcy protection to satisfy all personal injury and wrongful death claims related to asbestos in products, settle remaining retirement benefits of former employees, and provide a distribution of ****** ets to creditors.
The Naugatuck, Conn., debtor listed $10 million to $50 million in ****** ets and $50 million to $100 million in liabilities in its petition filed in the U.S. Bankruptcy Court for the District of New Jersey on July 31.
Uniroyal Holdings listed 30 law firms in the petition that had filed the most asbestos litigation cases against the debtor, though all amounts on the unsecured asbestos claims were categorized as undetermined.
Asbestos claims ranged from a high of 22,754 cases from Weitz & Luxenberg to a low of 32 cases from Wallace & Graham P.A.
#asbestos #million #filed #company
Uniroyal Holding Inc., which was a subsidiary of the former Uniroyal tire company, filed for Chapter 11 bankruptcy protection to satisfy all personal injury and wrongful death claims related to asbestos in products, settle remaining retirement benefits of former employees, and provide a distribution of ****** ets to creditors.
The Naugatuck, Conn., debtor listed $10 million to $50 million in ****** ets and $50 million to $100 million in liabilities in its petition filed in the U.S. Bankruptcy Court for the District of New Jersey on July 31.
Uniroyal Holdings listed 30 law firms in the petition that had filed the most asbestos litigation cases against the debtor, though all amounts on the unsecured asbestos claims were categorized as undetermined.
Asbestos claims ranged from a high of 22,754 cases from Weitz & Luxenberg to a low of 32 cases from Wallace & Graham P.A.
#asbestos #million #filed #company
