Two companies facing significant asbestos-related liabilities headed to bankruptcy court with roadmaps for a resolution. A steel tube maker sought Chapter 15 protection following what it described as a year of tariff-related woes. And Arizona's largest fire district, which has stopped responding to emergency calls, filed for Chapter 9 relief after its local government withheld funding.
A team of attorneys from Young Conaway Stargatt & Taylor LLP and Herbert Smith Freehills Kramer LLP are representing West Virginia coal-fired power plant operator Omnis Pleasants LLC as it seeks to deal with $70 million in funded debt in Chapter 11.
The largest fire district in Arizona has shut down emergency services and requested Chapter 9 relief, after a county treasurer began withholding tax revenue to address a $3 million negative balance.