Judges Confirm Clemtex Reorganization Plan, $40 Million Trust

CORPUS CHRISTI, Texas - Federal judges have approved a reorganization plan and channeling injunction filed by bankrupt silica defendant Clemtex, Inc., after an overwhelming majority of claimants voted to accept the measure. In Re: Clemtex Inc., No. 01-21794 (S.D. Texas, Bankr.).

Judge Richard Schmidt of the U.S. Bankruptcy Court for the Southern District Court and Hayden W. Head Jr. of the Southern District Court issued their Findings of Fact and Conclusions of Law Confirming Clemtex's First Amended Chapter 11 Plan on Aug. 1. They determined that the plan satisfied all the requirements for confirmation under relevant sections of the U.S. …