Asbestos Claims Management Corp. Files Prepackaged Chapter 11 Plan

DALLAS - The company created to pay asbestos claims in the aftermath of National Gypsum Corp.'s bankruptcy more than 10 years ago has itself filed for Chapter 11 protection under the U.S. Bankruptcy Code. In Re: Asbestos Claims Management Corp., No. 02-37124 (N.D. Texas Bankr.)

Asbestos Claims Management Corp. filed a prepackaged plan on Aug. 19 in which National Gypsum will fund the reorganization with approximately $347 million, the result of a settlement reached in anticipation of the Chapter 11 filing. The petition was filed in the U.S. Bankruptcy Court for the Northern District of Texas.

ACMC listed only plaintiffs' …