Asbestos Defendant Oakfabco Inc. Files for Chapter 11 Bankruptcy

NEW YORK –– Asbestos defendant Oakfabco Inc. has filed a voluntary petition for Chapter 11 bankruptcy, according to a recent notice.

The defendant filed the petition in the U.S. Bankruptcy Court for the Northern District of Illinois, the notice said.

The notice of suggestion of bankruptcy was filed in New York City’s coordinated asbestos docket.

In light of the filing, all proceedings involving Oakfabco have been stayed, the notice explained.

Oakfabco is represented by Mark K. Hsu, Joanna L. Drozd of Hawkins Parnell Thackston & Young LLP in New York.

In re: Oakfabco Inc. No. 15-27062 (U.S. Bankr. Ct., …