February 1, 1998 |
Traditional alliances are taking a beating in the smoking wars. Filial piety is too. Consider the latest assault on Big Tobacco--a multibillion-dollar suit against cigarette makers by the Manville Personal Injury Settlement Trust. The trust, which was spawned by the 1982 bankruptcy of asbestos giant Johns Manville Corp., compensates workers for the asbestos-related diseases that drove Manville to seek bankruptcy protection.
January 1, 1998 |
A New York consulting firm reports that 185 publicly held companies changed their names in 1997, a record. Interbrand said many of the changes arose from a desire to "brand" a corporation. Canandaigua Wine became Canandaigua Brands. Wholesome & Hearty Foods used the name of its flagship product in changing its name to Gardenburger Inc. Schuller Corp., upon discovering its original name has high recognition with consumers, switched back to Manville Corp.
May 16, 1995 |
In its move Monday to seek bankruptcy protection over its silicone gel breast implants, Dow Corning Corp. is following in the footsteps of Manville Corp., the giant building products company targeted for billions of dollars' worth of claims for asbestos-related illnesses more than a decade ago.
December 16, 1994 |
Judge Approves Manville Asbestos Plan: U.S. District Judge Jack Weinstein of Brooklyn OKd a second attempt to save the cash-strapped Manville trust, approving a plan under which more than 100,000 claimants will initially get 10 cents on the dollar for asbestos-related injuries. Weinstein said in a 222-page decision that the plan will ensure that all claimants are compensated to some degree. The restructuring also increases the trust's assets by at least $1 billion.
July 29, 1994 |
Asbestos victims who have been waiting years to get paid by a cash-strapped trust created from the Manville Corp. bankruptcy would get just 10% of the value of their claims under a proposed settlement. The Manville Personal Injury Settlement Trust, which is independent from the Denver-based corporation, said Thursday that the settlement proposal was presented to U.S. District Judge Jack Weinstein in New York Tuesday.
March 2, 1993 |
The Internal Revenue Service has refunded $31.4 million to Manville Corp., a company spokesman said. The refund reflects excess taxes paid by Manville and results from recalculation of the add-on minimum tax for the years 1977 through 1986.