Judge Grants Armstrong Six Month Extension

Lancaster, PA, Sept. 18–A federal bankruptcy judge has agreed to extend the time for Armstrong World Industries to propose a reorganization plan, according to the Lancaster New Era.

In an order entered Monday, Judge Randall J. Newsome approved a sixth extension of the so-called “exclusive period,” lengthening it by six months to April 2, 2004.

This latest extension will protect Armstrong from the possibility of an outsider submitting a competing plan as Armstrong completes the last steps in its emergence from bankruptcy.

Armstrong hopes to emerge by year’s end, three years after entering bankruptcy proceedings to resolve a surge in legal claims alleging personal injury from exposure to Armstrong’s asbestos insulation.