Pacific Insulation files Chapter 11
From Times Wire Services
Pacific Insulation Co. filed for Bankruptcy Court protection from its creditors, citing asbestos claims against it and a related company.
The Chapter 11 petition for Los Angeles-based Pacific listed more than $100 million in assets and $100 million in liabilities, with as many as 5,000 creditors.
Pacific Insulation said it sought protection after Thorpe Insulation Co., a related company, filed for Chapter 11 protection Oct. 15.
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