J T Thorpe Co. Files Prepackaged Chapter 11 Reorganization Plan

HOUSTON - Industrial contractor and asbestos defendant J T Thorpe Co. has filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. In Re: J T Thorpe Co., No. 02-41487 (S.D. Texas).

The Houston-based company filed its prepackaged bankruptcy petition Oct. 1 in the U.S. District Court for the Southern District of Texas in an effort to resume operations while resolving its asbestos-related liabilities.

J T Thorpe, which is named in approximately 80,000 claims alleging injury as a result of exposure to asbestos products it sold, said in a statement that it expects to emerge from …