BRIEF-Enpro industries says district court approved units’ joint reorganization plan [Reuters]
Enpro Inc. (NPO)
Last enpro inc. earnings: 2/25 06:30 am
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Source: Reuters
June 12 EnPro Industries Inc: * EnPro Industries announces District Court approval ofsubsidiaries’ joint reorganization plan * EnPro anticipates that, absent any appeals, joint planwill be consummated on or about July 29, 2017 * Joint plan may not be consummated until at least 40 daysafter date District Court issues its order confirming jointplan? * Bankruptcy court entered an order confirming joint plan ofreorganization of certain of EnPro's subsidiaries * Court approved settlements with insurance carriers issuedpolicies covering losses associated with product liabilityclaims against Coltec, units * Consummation of joint plan would effect "substantiveconclusion" of asbestos claims resolution proceedings involvingGST LLC, co's units * OldCo estimates that carrier will owe about $11 million inreimbursements over life of asbestos trust for share of Coltecclaims * ?GST, OldCo are not consolidated with EnPro and its othersubsidiaries for financial repor
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