Paddock Enterprises, LLC

  1. December 22, 2022

    Insurers Slam Scouts Plan; FTX To Start Clawback Actions

    Insurers who didn't sign on to the Chapter 11 plan of the Boy Scouts of America slammed the $2.5 billion settlement trust in an appellate briefing, cryptocurrency exchange FTX said it will begin seeking clawback of prepetition distributions, and cosmetics giant Revlon Inc. reached a deal with creditors for a Chapter 11 plan. This is the week in bankruptcy.

  2. December 21, 2022

    Owens-Illinois Unit's Ch. 11 Closed Despite Discovery Row

    A Delaware bankruptcy judge on Wednesday closed the Chapter 11 case of Owens-Illinois asbestos unit Paddock Enterprises, overriding arguments from the U.S. Trustee's Office that the case needs to remain open to resolve a lingering discovery dispute.

  3. December 12, 2022

    Owens-Illinois Unit Says Discovery Row Can't Stop Ch. 11 Exit

    Owens-Illinois asbestos unit Paddock Enterprises on Friday asked a Delaware bankruptcy judge to reject arguments that its exit from Chapter 11 should be delayed for a pending discovery dispute, saying it has no part in the dispute and its work in bankruptcy is done.

  4. September 23, 2022

    Owens-Illinois Unit Ordered To Open Asbestos Claim Database

    A Delaware bankruptcy judge has told the reorganized asbestos unit of Owens-Illinois Inc. that it will have to open its database of asbestos injury claims to a pair of companies facing their own asbestos liability in pending North Carolina bankruptcy cases.

  5. September 02, 2022

    Sears, Boy Scouts Each Move Closer To Ch. 11 Resolutions

    The yearslong dispute between Sears and its former CEO ended with a deal, the Boy Scouts of America took a giant leap toward confirmation, and crypto investment platform Celsius wants to release $56 million of digital assets. This is the week in bankruptcy.

  6. August 31, 2022

    Asbestos Debtors Want Owens-Illinois Ch. 11 Claim Data

    Three bankrupt companies with cases pending in North Carolina court told a Delaware judge Wednesday that their subpoenas to the reorganized asbestos unit of Owens-Illinois would provide relevant data about asbestos injury claims as they proceed toward claims estimation trials.

  7. May 17, 2022

    The Week In Bankruptcy: Purdue Bonus, PR Pension Appeal

    Two dozen states objected to proposed bonus payments for the CEO of bankrupt drugmaker Purdue Pharma, the First Circuit declined to rehear an appeal over changes made to Puerto Rican teacher pensions as part of the island's restructuring, and Affordable Care Act penalties are taxes in bankruptcy court. This is the week in bankruptcy.

  8. May 16, 2022

    Owens-Illinois Asbestos Unit Gets Nod On $610M Ch. 11 Plan

    The Chapter 11 plan of a bankrupt Owens-Illinois unit received approval Monday in Delaware bankruptcy court, making $610 million available for the thousands of people with claims for asbestos injuries allegedly caused by asbestos pipe-covering products made by Owens-Illinois more than 50 years ago.

  9. January 13, 2022

    Owens-Illinois Spinoff Proposes $610M Asbestos Claims Trust

    Paddock Enterprises, a spinoff of glassmaker Owens-Illinois, has submitted a proposed Chapter 11 plan to the Delaware bankruptcy court that would establish a $610 million trust fund to pay off its legacy asbestos liability.

  10. June 17, 2020

    Owens-Illinois Spinoff Gets Court Nod For Ch. 11 Claims Rep

    The future claims representative proposed by bankrupt Paddock Enterprises LLC — a spinoff of glassmaker Owens-Illinois — received the nod Wednesday from a Delaware judge who ruled that the debtor's choice had the requisite experience to perform the role over a candidate proposed by the federal bankruptcy watchdog.