Quigley personal injury claimants oppose case conversion or dismissal request

By Caroline Salls

Pittsburgh, June 5 - Quigley Co., Inc.'s personal injury claimants represented by SimmonsCooper LLC objected to the U.S. Trustee's motion to convert the company's bankruptcy case to Chapter 7 to be liquidated or to dismiss the case, according to a Monday filing with the U.S. Bankruptcy Court for the Southern District of New York.

According to the objection, although the company may have taken longer to file a plan of reorganization that responds to an asbestos claims estimation than the U.S. Trustee would have liked, the plan has been filed.

"Time will tell - and the U.S. Trustee reveals no greater ability to read the tea leaves than the next person - as to whether such revised plan will be confirmed and sustained on appeal," the objection said.

In addition, the objection said the U.S. Trustee has not proven that the delay in confirming a plan of reorganization would be any more harmful to creditors than converting or dismissing the case would be.

Quigley, a unit of Pfizer Inc., filed for bankruptcy on Sept. 3, 2004. Its Chapter 11 case number is 04-15739.

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