Financial Advisor to Insurance Carriers
- Business Plan Analysis
- Consulting Expert
- Engaged with respect to debtor’s significant asbestos liability
- Provided financial analysis regarding proposed plan of reorganization
Congoleum produces sheet and tile floor covering products in various colors and designs primarily for use in remodeling, manufactured housing, new construction and commercial applications. Congoleum sought a pre-packaged bankruptcy solution to address its mounting asbestos liability claims. The plan called for Congoleum to contribute certain liability insurance rights and a note for approximately $2.7 million to a trust for the benefit of asbestos personal injury claimants. DSI was engaged by counsel of certain insurance companies involved to provide financial analysis and expertise regarding various aspects of the proposed plan of reorganization.