アスベスト（石綿）被害者の集団訴訟に対して、連邦破産法第11条の保護を求めた企業もある（製紙用資材メーカーのジョンズ・マンビル、断熱材メーカーのセロテックス、グラスファイバー製品大手のオーエンス・コーニング、内装材大手のアームストロング・ワールド・インダストリーズなど）。
OWENS CORNING FILES
VOLUNTARY CHAPTER 11 PETITION TO RESOLVE ASBESTOS LIABILITY
All Operations Open and Focused on Customer Service
http://www.owenscorning.com/finre/release.html
Owens Corning (NYSE:OWC)
today announced that, in order to address the growing demands on
its cash flow resulting from its multi-billion dollar asbestos
liability, the company has voluntarily filed for
reorganization under Chapter 11 of the U.S. Bankruptcy Code.
The filing, made today in Wilmington, Delaware, will enable Owens
Corning to refocus on operating its business and serving its
customers, while it develops a plan of reorganization that will
resolve its asbestos and other liabilities and provide a suitable
capital structure for long-term growth.
Owens Corning's asbestos liability arises from a high-temperature
pipe insulation product trade-named Kaylo, which it distributed and/or
manufactured from 1952 to 1972. The company's total revenues from
the sale of this product were approximately $135 million. Owens
Corning is a co-defendant with other former manufacturers,
distributors and installers of products containing asbestos in
personal injury litigation. To date, the company has received more than 460,000
asbestos personal injury claims and has paid or agreed to pay more than
$5 billion
for asbestos-related awards and settlements, legal expenses and
claims processing fees.
The company noted that 22 other companies involved in
asbestos-related activity have commenced reorganization cases
under Chapter 11 of the U.S. Bankruptcy Code. Like many of these
other companies, Owens Corning intends to use the special
provisions of Chapter 11 relating to the resolution of asbestos
claims as a process through which all asbestos claims will be
evaluated and resolved with no contingent liability remaining for
the company.
Johns-Manville
Corporation
http://www.scripophily.net/joconewyo19.html
In August 1982,
Johns-Manville Corporation filed a petition for
reorganization under Chapter 11 of the Bankruptcy Code which automatically suspended all
personal injury lawsuits and allowed Manville Corporation
("Manville") to reorganize, thus preserving its
financial viability to compensate asbestos claimants.
In December 1986, the United States Bankruptcy Court for the
Southern District of New York approved Manville's Plan of
Reorganization ( the "Plan"). A cornerstone of the Plan
was the
creation of the Manville Personal Injury Settlement Trust (the "Trust") to
compensate individuals suffering personal injury from exposure to
asbestos or asbestos-containing products manufactured or sold by
Manville. Following several appeals, the U.S. Court of Appeals
for the Second Circuit confirmed the Plan on October 28, 1988.
The Trust became operational thirty days later on November 28,
1988.