Thursday, April 25, 2013
United States: Yarway Files For Bankruptcy, Citing Asbestos-Related Litigation
On Monday, April 22, 2013, Yarway Corporation filed a chapter 11 petition for bankruptcy in the United States Bankruptcy Court for the District of Delaware. According to papers filed by Yarway with the Bankruptcy Court, the company's origins go back to 1908 when it started manufacturing pipe clamps, steam traps and valves. See Yarway's Affidavit in Support of First Day Pleadings (the "Decl."), at *1. The company was privately owned until 1986, when it was sold to Keystone International, Inc.. Keystone was purchased by Tyco International Ltd. in 1997. Decl. at *2 read more at: http://www.mondaq.com/unitedstates/x/235980/Insolvency+Bankruptcy/Yarway+Files+For+Bankruptcy+Citing+AsbestosRelated+Litigation
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Filing bankruptcy doesn?t mean that you won?t have any more bills to pay at all, so make sure that you?re always keeping up with the payments. Many people make a habit of making only the minimum payment because it is more comfortable; however, this habit can cause it to spiral out of control very quickly.
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