Yarway plan of reorganization accepted by all but one voting creditor

By Caroline Salls

Pittsburgh, March 31 – Yarway Corp.’s plan of reorganization was accepted by a majority of voting creditors, according to a Monday filing with the U.S. Bankruptcy Court for the District of Delaware.

The one holder of $155.63 million in intercompany claims voted to accept the plan.

In addition, 61,607 holders, or 99.9984% in number, of $451.69 million, or 99.9995% in amount, of asbestos personal injury claims voted to accept the plan, while one holder of $2,000 of those claims voted to reject it.

The plan confirmation hearing is scheduled for April 8.

Yarway, a Boca Raton, Fla.-based industrial valve maker, filed for bankruptcy on April 23, 2013. Its Chapter 11 case number is 13-11025.

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