TOLEDO, OH - Due to the growing demands on its cash flow resulting from its multibillion dollar asbestos liability, Owens Corning has announced that the company has voluntarily filed for Chapter 11 bankruptcy protection.
To date, the company has received more than 460,000 asbestos personal injury claims and has paid or agreed to pay more than $5 billion for asbestos-related awards and settlements, legal expenses, and claims processing fees.