OPINION THOMAS E. CARLSON, Bankruptcy Judge. INTRODUCTION Debtor sold, installed, and repaired asbestos-containing products starting in 1937. Plagued by thousands of lawsuits, and facing its insurers' claims that its insurance coverage was exhausted, Debtor filed a chapter 11 petition in this court. Debtor now seeks to confirm a plan that channels all asbestos injury claims to a section 524(g) trust established to benefit asbestos victims. The central feature of the plan is that it...
Chapter 11 OPINION THOMAS E. CARLSON, U.S. Bankruptcy Judge The question presented is whether a creditor who obtains a partial recovery from a non-debtor co-obligor is required to reduce the claim asserted against the debtor in bankruptcy. I hold that the claim against the debtor is not reduced by the partial recovery, even if state law requires that the claim be reduced in a non-bankruptcy setting. FACTS William Del Biaggio, III (Debtor) borrowed a total of $39.25 million from the six...
FINDINGS OF FACT AND CONCLUSIONS OF LAW IN SUPPORT OF JOINT COMBINED CHAPTER 11 PLAN AND DISCLOSURE STATEMENT (DATED DECEMBER 21, 2011) ROGER L. EFREMSKY, Bankruptcy Judge. A hearing was held before this Court on January 30, 2012 (the "Confirmation Hearing") to consider final approval and confirmation of the Joint Combined Chapter 11 Plan and Disclosure Statement (Dated December 21, 2011) [ECF No. 101] (the "Plan" and "Disclosure Statement") filed by the debtor and debtor-in-possession...
