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9th Circuit Vacates Asbestos Bankruptcy Reorganization; Says Trust Isn’t In Control

SAN FRANCISCO — (Mealey’s) The Ninth Circuit U.S. Court of Appeals on Oct. 28 vacated the bankruptcy reorganization plan for a former asbestos insulator, finding that the plan failed to satisfy the requirements of Section 524(g) of the Bankruptcy Code dealing with control by asbestos trusts...