26th June 2007 - Federal-Mogul Bankruptcy Hearings to Continue in July

After four days in bankruptcy confirmation hearings in Pittsburgh Federal-Mogul was unable to gain approval of its current plan.  The confirmation hearings will be continued in July.  After the hearing on 10th of July supporters and opponents of Federal-Mogul's bankruptcy plan will be allowed to file briefs stating their case through the 31st of August.  Final arguments in the Federal-Mogul Bankruptcy Plan is scheduled for 1st of October.

Various insurers, as well as three North American automakers, continue to oppose some aspects of the trust fund being set up for asbestos-liability claims.

Federal-Mogul filed for bankruptcy the 1st of October 2001 to protect itself from more than 100,000 asbestos-related lawsuits.