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Congoleum Corp., a Mercerville, N.J.-based maker of linoleum floor tiles, said it's delaying until September plans to file a prepackaged Chapter 11 to settle mounting asbestos lawsuits against the company.
Congoleum's move follows an announcement Friday, June 6, from Halliburton Co. that said the Houston oil services giant was pushing back plans to place some of its subsidiaries into a prepackaged bankruptcy.
Congoleum said it's delaying a bankruptcy filing because it wants to give asbestos plaintiffs more time to consider a settlement offer.
"Although this amendment postpones our anticipated date for entering into Chapter 11 until September,...