Federal Mogul Corporation Completes Massive Cross-Border Restructuring

North America - United States | Europe - United Kingdom

Federal Mogul Corporation completed a massive cross-border restructuring — involving over $9 billion in asbestos liabilities, $4 billion in finance and trade debt, and $2 billion in pension liabilities — that was implemented through multiyear joint U.S. Chapter 11 and English administration proceedings. Jim Conlan and Patrick Corr acted for Federal Mogul Corporation in the matter, which used first-of-their-kind “light touch” administrations with more than 130 U.K. incorporated entities subject to administration and complementary Chapter 11 proceedings.

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