Bankruptcy Court Issues Ruling On Pittsburgh Corning Reorganization Plan

The United States Bankruptcy Court for the Western District of Pennsylvania issued a decision denying confirmation of the most recent amended plan of reorganization for Pittsburgh Corning Corporation after normal business hours last evening.

Although denying confirmation, the decision viewed favorably many features of the plan. PPG is studying the bankruptcy court’s decision to determine its next steps. These could include plan modifications, reconsideration by the bankruptcy court, and/or appeals.

PPG has owned 50 percent of Pittsburgh Corning since 1937.

600450 Bankruptcy Court Issues Ruling On Pittsburgh Corning Reorganization Plan glassonweb.com
Date: 23 December 2006
Source: PPG

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