ACandS Reorganization Proposal Approved by Federal Judge

WILMINGTON, Del. - A federal judge has approved the disclosure statement and proposed period for accepting a plan of reorganization in the ACandS, Inc. bankruptcy proceedings. In re: ACandS, Inc. No. 02-12687 (D. Del., Bankr.).

On Oct. 3, Judge Randall J. Newsome of the United States Bankruptcy Court for the District of Delaware approved a motion by ACandS to establish a voting procedure in which creditors will have 45 days to accept or reject the company's proposed reorganization plan.

ACandS, which was spun off from Armstrong World Industries in 1969, used asbestos material from 1959 to 1973. ACandS is …