Joining nine other companies fighting for survival in the face of enormous liability for asbestos-related illnesses, Federal-Mogul Corp. files for Chapter 11 bankruptcy protection to try to provide for asbestos claimants while continuing to operate without interruption. Federal-Mogul receives approval in U.S. District Court in Wilmington, DE, for $450 million of interim debtor-in-possession financing (part of a $675 million funding package). In the U.K., Federal-Mogul also files for ...
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