Asbestos Defendant Resillo Press Pad Co. Files for Bankruptcy

CHICAGO –– Resillo Press Pad Co. has filed a voluntary petition for relief under Chapter 7 of the United States Bankruptcy Code, citing a number of claims in its filing, including pending asbestos litigation.

A notice filed Jan. 31 in the New York Supreme Court for New York County noticed the pending bankruptcy action, listing 10 asbestos actions in which the company had been named as a defendant.

The New York court noted that since no judgment can be entered against the debtor, “all currently pending lawsuits, including the above-captioned actions, are stayed, and all actions taken in violation …