Wednesday, May 23, 2018
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OC seeks extension in bid to reorganize

The latest deadline passed yesterday for Owens Corning to submit a financial reorganization plan to emerge from Chapter 11 bankruptcy, but the Toledo firm is asking for another extension to Jan. 31.

U.S. Bankruptcy Court in Wilmington, Del., is expected to rule on the Toledo building product company's request on Sept. 24, OC spokesman David Dimmer said. If granted, the request will give OC more time to develop a plan for emerging from bankruptcy.

OC filed for protection from its creditors on Oct. 5, 2000, to gain relief from tens of thousands of asbestos liability claims.

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