Valuation of Debtor Ordered in Clemtex Bankruptcy

CORPUS CHRISTI, Texas - Parties in the Clemtex Chapter 11 bankruptcy proceedings have agreed to hire a service to determine the total value of the silica defendant, which filed for Chapter 11 reorganization last year. In re: Clemtex, Inc., No. 01-21794 (S.D. Texas, Bankr.).

An agreed order authorizing the employment of Business Valuation Services was entered Sept. 17, after a hearing was held in which no objections to the proposal were made.

According to a prior motion filed jointly by the tort claimants committee of unsecured creditors and the future claims representatives, an accurate valuation of the debtor is necessary …