Financial Woes For Asbestos Defendants Carry Corporate Realignment Trend Into 2001

icFendicor companies named in asbestos lawsuits, the year 2001 has begun just where 2000 left off.

photo-1More than two dozen companies can point to asbestos liability as the reason they had to either shut their doors or file for bankruptcy protection and reorganization. Bankruptcy petitions in the year 2000 accounted for nearly one-fifth of all asbestos-related filings.

Now, two more defendants have filed for bankruptcy, citing an overwhelming asbestos liability. Another seems to have moved in a different direction, thanks to a $550 million credit extension.

photo-2Engineering firm Burns & Roe Enterprises, Inc. has filed for protection under Chapter 11 …