Congoleum Bondholders Seek Court OK to Probe Attor
Ridgeland, MS, April, 10, 2006--Congoleum Corp.'s committee of bondholders announced that the panel, rather than an examiner, is best suited to investigate and litigate claims against the company's former counsel.
The committee is asking a federal bankruptcy judge to sign off on a plan that would give it authority to investigate and prosecute claims against Gilbert Heintz & Randolph LLP. The committee said it was the only party in the Congoleum bankruptcy case that didn't have a conflict of interest in pursuing the claims against the law firm. The bondholders and insurers agree, however, that Congoleum shouldn't lead the investigation.
