In the Matter Of: Unr Industries, Inc., Debtors. Appeals of Unarco Bloomington Factory Workers
Court of Appeals for the Seventh Circuit
1Opinion of the Court
EASTERBROOK, Circuit Judge.
Twelve years ago, claims based on exposure to asbestos UNR Industries had manufactured or sold were rolling in, with no end in sight and a correspondingly slim chance of satisfying all current and future claims. UNR commenced a reorganization in bankruptcy, the first asbestos manufacturer to do so. After some preliminary maneuvering recounted at 725 F.2d 1111 (1984), and 736 F.2d 1136 (1984), the firm and its creditors agreed on a plan of reorganization. The reorganized firm (“New UNR”) endowed an Asbestos Disease Trust, which received approximately 63% of the…
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