Delaware Court Issues TRO to Protect Owens Corning's Foreign Subsidiaries

WILMINGTON, Del. - U.S. Bankruptcy Judge Mary F. Walrath has granted Owens Corning's motion for a temporary restraining order (TRO) that prevents Owens Corning's creditors from acting against its foreign subsidiaries as a result of its seeking protection under Chapter 11 of the U.S. Bankruptcy Code. Owens Corning, et al. v. Credit Suisse First Boston, et al., Adv. No. A-00-1575 (D. Del. Bankr.).

Judge Walrath said the Oct. 10 order would 'preserve the status quo for the benefit of the Debtors' bankruptcy estates and their creditors without causing undue harm to Defendants.'

Owens Corning filed a voluntary petition for reorganization …