Celotex Files Chapter 11: The Tampa, Fla.-based...
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From Times Staff and Wire Reports
Celotex Files Chapter 11: The Tampa, Fla.-based building company, citing a crush of asbestos-related lawsuits, said it has filed for protection from creditors. Chairman Kenneth Hyatt said the filing in U.S. Bankruptcy Court in Tampa will allow it to resolve the lawsuits while continuing to manufacture and sell building products. Celotex and wholly owned subsidiary Carey Canada Inc. have been fighting litigation surrounding the insulation material since the early 1970s.
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