News Stories for Federal-Mogul Corporation(2001) Click Here for other reports on this company.
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Auto parts maker Federal-Mogul Corp. announced that it is seeking federal bankruptcy protection in the United
States and the United Kingdom, citing asbestos liability. During the Chapter 11 restructuring proceedings, the
company will continue its auto parts business as usual, Federal-Mogul chairman and chief executive Frank
The U.K. Court Chancery Division appointed Kroll Buchler Phillips as administrator for Federal-Mogul Corp.'s U.K.-
based companies.
Federal-Mogul Corp. announced that Frank E. Macher has been elected as chairman and chief executive officer,
effective October 1, 2001.
Federal-Mogul Corporation announced that the U.S. Bankruptcy Court approved its motion for $450 million of
interim debtor-in-possession financing provided by J.P. Morgan Chase & Co. to continue operations, pay
employees, and purchase goods and services. The interim funding is part of the commitment that Federal-Mogul
received from J.P. Morgan Chase of $675 million to supplement liquidity and fund operations during the
restructuring process. The Court also approved the Companys motion to , among other things, pay pre-petition
wages, salaries and benefits for employees in the United States and United Kingdom included in the filing. The
Court also granted approval to the Companys motion to honor U.S. aftermarket customer accommodations and
Federal-Mogul Corp. outlined for the U.S. Bankruptcy Court its proposed strategy for the resolution of asbestos
claims. The Company tells the Court that core issues that need to be addressed include the following: overall cost
of resolving claims, claim resolution transaction costs, amount of insurance available for the payment of such
claims, and ongoing strength and value of the Company's businesses. Among others, the Company outlined the
following key elements for an efficient, cost-effective means for assessing and compensating asbestos-related
claims: 1) implementation of cross border insolvency protocol for claimants in the United Kingdom; 2)
appointment of a legal representative for future claimants; 3) possible U.S. District Court retention of jurisdiction
of asbestos-related claims; 4) in the absence of an alternative, establishment of uniform, scientifically-valid criteria
for asbestos-related claims to proceed; 5) appointment of a panel of medical and scientific experts to assist with
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval to retain Coblence and Warner, PC
as special asbestos litigation counsel.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motions to retain Pachulski Stang Ziehl Young &
Jones, PC as local counsel; Rothschild, Inc. as financial advisor and investment banker; and Sidley Austin Brown
Federal-Mogul Corporation announced that the Company was awarded four contracts worth more than $20
million annually. These components reportedly will be used as original equipment and replacement parts as early
The U.S. Trustee assigned to the Federal-Mogul Corp. case appointed an official committee of unsecured
creditors.
The U.S. Trustee assigned to the Federal-Mogul Corp. case appointed an official committee of unsecured
creditors and an official committee of asbestos claimants.
Federal-Mogul Corp. filed motions seeking U.S. Bankruptcy Court approval to retain Penningtons as special
counsel in connection with overseas insurance and overseas claims at hourly rates ranging from $110 to $405 for
paralegals through partners; Ernst & Young as independent advisor at hourly rates ranging from $75 to $425;
Ernst & Young Corporate Finance, LLC as advisor in connection with the potential divestiture of the Lighting
Group; Dykema & Gossett, PLLC as special counsel; and Sitrick & Company, Inc. as corporate communications
The U.S. Bankruptcy Court scheduled a November 7, 2001 hearing to consider granting final approval to Federal-
Mogul Corp.'s $675 million debtor-in-possession financing facility from J.P. Morgan Chase.
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval of cross-border protocol, subject to
further approval by the English Court.
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval to retain Spriggs & Hollingsworth as
special insurance counsel in matters related to Pneumo Abex Corp. at hourly rates ranging from $100 to $365 for
paralegals through partners; W.Y. Campbell & Company as divestiture advisor; Stout Risius Ross, Inc. as
appraiser; and R.R. Donnelley & Sons, Inc. as notice agent. Separately, the official committee of unsecured
creditors filed motions seeking Court approval to retain The Bayard Firm as co-counsel at hourly rates ranging
from $115 to $415 for paralegals through directors and Sonnenschein Nath & Rosenthal as counsel at hourly
The U.S. Bankruptcy Court granted Federal-Mogul Corporation final approval of $675 million in debtor-in-
possession financing provided by J.P. Morgan Chase & Co. to supplement liquidity and fund operations during its
financial restructuring process. The Court order also allows the Company to use up to $220 million for loans and
The Third Circuit Court of Appeals signed an order that allows U.S. District Court Judge Alfred Wolin to preside
over the Chapter 11 proceedings of Owens Corning Corp.; W.R. Grace & Company; Armstrong Holdings, Inc.;
The U.S. Bankruptcy Court issued an ordering transferring the Federal-Mogul Corp. case to the U.S. District
Court in the District of New Jersey, Judge Alfred M. Wolin presiding.
Federal-Mogul Corp. announced the appointment of Michael Gaynor as senior vice president and chief
information officer, effective February 11, 2002.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.s motion seeking an extension of the exclusive period
during which the Company can file a plan of reorganization and solicit acceptances thereof.
Several parties filed plaintiffs notice of intent to file motions to dismiss the Federal-Mogul Corp. case. Separately,
several parties have also filed motions seeking a transfer of venue in the case.
The U.S. Bankruptcy Court denied a motion filed by DaimlerChrysler AG, Ford Motor Company, General Motors
Corp., and others seeking to consolidate and transfer asbestos claims into one case to be heard in the District of
Delaware. The Company neither supported nor objected to the motion.
Federal-Mogul Corporation announced that it has signed an agreement to sell the business, defined assets and
inventory of its Signal- Stat(R) Lighting Products division to Truck-Lite Co. for $23 million subject to customary
closing adjustments. The purchase agreement is subject to approval by the U.S. Bankruptcy Court after
compliance with approved bidding procedures. Federal-Moguls letter of intent with Truck-Lite was approved by
The U.S. Trustee assigned to the Federal-Mogul Corp. case amended the official committee of asbestos
claimants.
Federal-Mogul Corp. filed an objection with the U.S. Bankruptcy Court to the appointment of an official committee
of property damage claimants.
The U.S. Bankruptcy Court has appointed Francis McGovern as mediator in the Federal-Mogul Corp. case. The
Court also appointed Eric Green as legal representative for future asbestos claimants.
Federal-Mogul Corporation announced its financial results for the fourth quarter and full year of 2001. Fourth
quarter 2001 sales were $1,292 million, down four percent from the same period last year, for a loss of $0.36 per
share from operations, compared to a loss from operations of $0.99 per share in 2000. Including charges for
impairment, divestitures of businesses and Chapter 11 and Administration related expenses, Federal-Mogul
reported a loss of $1.37 per share in the fourth quarter 2001 compared with a reported loss of $4.80 per share for
the same period last year. For the full year, Federal-Mogul posted sales of $5,457 million, down nine percent from
The U.S. Bankruptcy Court scheduled a February 26, 2002 hearing to consider Federal-Mogul Corp.s letter of
intent with Truck-Lite.
The U.S. Bankruptcy Court approved the motion to retain Analysis, Research, Planning Corp. as asbestos
consultant to the legal representative of future asbestos claimants in the Federal-Mogul Corp. case.
The U.S. Bankruptcy Court issued an order denying Lon Morris Colleges motion for entry of an order directing the
appointment of an official committee of asbestos property damage claimants.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.s motion to retain Rothschild, Inc. as financial advisor
and investment banker. The proposed fee structure includes a cash advisory fee of $200,000 per month and a
completion fee of $10,000,000 upon confirmation and effectiveness of a plan of reorganization or the substantial
consummation of another transaction. Separately, the Court also approved the motion of the Company and its
official committee of asbestos claimants seeking to appoint Professor Eric Green as legal representative for
future asbestos claimants. The Court also approved the Companys motion to retain Ernst & Young as
independent auditor and accounting, tax, valuation, and actuarial advisor. The Companys official committee of
unsecured creditors filed a motion seeking U.S. Bankruptcy Court approval to retain Ashurst Morris Crisp as
Federal-Mogul Corporation reported the completion of the previously announced sale of the business, defined
assets and inventory of its Signal-Stat(R) Lighting Products division to Truck-Lite Co., Inc. for $23 million subject
to customary closing adjustments. Federal-Moguls letter of intent with Truck-Lite was approved by the court on
January 14, 2002. No Federal-Mogul manufacturing facilities are included in the sale as the business occupies
portions of five different locations. Those locations are Logansport, Indiana; El Paso and Brownsville, Texas; and
Juarez and Matamoros, Mexico. Federal-Mogul locations in Sparta, Tennessee and Boyertown, Pennsylvania will
Federal-Mogul Corp.s official committee of asbestos claimants filed a motion seeking U.S. Bankruptcy Court
approval to retain Lovells as international counsel. The firms proposed hourly rates are as follows: partners, $345-
625; senior associates, $265-400; and junior assistants, $195-275.
Federal-Mogul Corp. filed an objection to Lon Morris Colleges motion for an order granting leave to appeal an
order denying the appointment of an official committee of asbestos property damage claimants.
The U.S. Bankruptcy Court appointed a fee auditor in the Federal-Mogul Corp. case. The Court also approved
Herbert Smith as English co-counsel to the legal representative for the future asbestos-related claimants. The
Court also appointed advisor and special master William A. Dreier, Esq. On March 22, 2002, the Court approved
To ensure continuity of leadership during the companys current restructuring, Federal-Mogul Corporation
announced that Chairman and Chief Executive Officer Frank Macher and President and Chief Operating Officer
Chip McClure will remain in their current roles for the foreseeable future -- extending the transition period before
Federal-Mogul Corp.s official committee of asbestos-related claimants filed a motion seeking U.S. Bankruptcy
Court approval to retain Zolfo Cooper, LLC as consultant at hourly rates ranging from $75 to $675 for support
The U.S. Bankruptcy Court entered an order directing the employment of Warren Smith & Associates, PC as fee
auditor and approved the Companys motion to retain Gibbons Del Deo Dolan Griffinger & Vecchione as so-
counsel at hourly rates ranging from $80 to $600 for paraprofessionals through partners.
Federal-Mogul Corporation reported first quarter sales of $1,346 million, down seven percent compared to $1,451
million in 2001. First quarter earnings from operations were $(0.06) per share, compared to $(0.22) per share in
2001. First quarter 2002 cash flow from operations, net of capital expenditures, was $(32) million compared to
Federal-Mogul Corporation has signed a letter of intent to sell certain United States camshaft operations to
ASIMCO, an automotive components manufacturing company based in Beijing, China, for $25.7 million. Federal-
Mogul will also retain the accounts receivable of these operations. The proposed sale is subject to approval by
the U.S. Bankruptcy Court in addition to completion of due diligence and other customary conditions to closing.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motions to retain GCG Communications as claims
notice consultant and The Garden City Group, Inc. as claims agent. The U.S. Trustee assigned to the case had
The U.S. Bankruptcy Court scheduled a May 29, 2002 hearing to consider Federal-Mogul Corp.s letter of intent to
sell certain United States camshaft operations to Asimco for $25.7 million.
Federal-Mogul Corp.’s official committee of unsecured creditors filed a motion seeking a U.S. Bankruptcy Court
order compelling the production of certain documents. Both the Company and The Chase Manhattan Bank filed
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to TradeDebt.net.
The U.S. Bankruptcy Court established March 3, 2003 as the final date by which interested parties must file
proofs of claim against Federal-Mogul Corporation and any of its 156 affiliated debtors in their Chapter 11 cases
on account of damage caused by asbestos to property or property interests located in the United States and
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval of a three-month extension of the
exclusive period during which the Company can file a plan of reorganization and solicit acceptances thereof.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motion for an extension of the exclusive period
during which the Company can file a plan of reorganization and solicit acceptances thereof.
Federal-Mogul Corporation and TRW, Inc. announced a strategic agreement through which Federal-Mogul will
retain exclusive rights to market, package and distribute TRW branded chassis products within the North
American replacement parts industry. Subject to approval by the U.S. Bankruptcy Court, the agreement
represents an extension of a long-term supply and license arrangement for TRW branded chassis parts dating to
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s official committee of equity security holders' motion
to retain Bifferato, Bifferato & Gentilotti as counsel.
Federal-Mogul Corporation reported second quarter 2002 sales of $1,442 million up one percent compared to
$1,425 million in 2001. Second quarter 2002 earnings from operations were $48 million or $.58 per share
compared to a loss from operations of $5 million or $(.06) per share in 2001. In the second quarter 2002, Federal-
Mogul had reported earnings of $16 million or $.17 per share, compared to a loss of $18 million or a loss of $(.25)
Federal-Mogul Corporation announced that it has filed a letter of intent with the U.S. Bankruptcy Court to explore
the possible sale of its original equipment lighting operations to Decoma International, Inc. The two companies
will explore the potential sale to Decoma of Federal- Mogul's OE lighting business with manufacturing facilities in
Hampton, Virginia, and Matamoros, Mexico; a distribution center in Brownsville, Texas; and an assembly
operation in Toledo, Ohio. The letter of intent contains a number of conditions that must be satisfied before a
Federal-Mogul Corp.'s official committee of equity security holders filed a motion seeking U.S. Bankruptcy Court
approval to retain Deloitte & Touche, LLP as consultant and financial advisor at hourly rates ranging from $100 to
According to published reports, Federal-Mogul Corp. has stated that it is currently exploring the possible sale of
its automotive light manufacturing plant in Copeland Industrial Park, Michigan. The Company filed a letter of intent
with the U.S. Bankruptcy Court , although specific terms of the proposal were not outlined. The Company is
reportedly in discussions with Decoma International, Inc. for the possible sale of its entire lighting division.
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case to Longacre Master Fund, Ltd. and Trade-Debt.net.
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval of an extension of the exclusive
period during which the Company can file a plan of reorganization and solicit acceptances thereof.
The official committee of equity security holders filed a motion seeking U.S. Bankruptcy Court approval of a 2004
Examination of the official committee of unsecured creditors.
Federal-Mogul Corporation reported third quarter 2002 sales of $1,345 million up four percent compared to
$1,289 million in 2001. Pre-tax profit from operations was $13 million compared to a loss of $87 million in third
quarter 2001. Including the above items, in the third quarter 2002 Federal-Mogul reported a net loss of $73 million
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case to Debt Acquisition Company of America V, LLC; Longacre Master Fund, Ltd.; and Trade-Debt.net.
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case to Trade-Debt Net and Debt Acquisition Company of America V, LLC.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motion to retain Alix Partners, LLC as financial
advisor.
Federal-Mogul Corp.'s official committees of asbestos claimants and unsecured creditors filed a motion seeking a
U.S. Bankruptcy Court order terminating the exclusive period during which the Company can file a plan of
Federal-Mogul Corp.'s official committee of equity security holders filed an objection to the motion of the official
committees of asbestos claimants and unsecured creditors seeking a termination of the Company's exclusivity.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motion to retain Dovebid, Inc. as auctioneer in
connection with the sale of lighting equipment.
Federal-Mogul Corp. announced it has entered into a letter of intent to acquire Honeywell's Bendix friction
materials business. Consummation of the acquisition will be conditional upon Honeywell receiving a bankruptcy
court-issued permanent injunction shielding it from all current and future asbestos liabilities related to Honeywell's
worldwide friction materials business. Under terms of the transaction, Federal-Mogul would acquire Bendix's
worldwide friction materials business, with the exception of certain U.S.-based assets, subject to certain liabilities.
For up to two years following the closing, Honeywell will continue to operate certain of its U.S.-based plants to
manufacture friction materials on a contract basis for Federal-Mogul. Federal-Mogul will obtain the rights to the
Bendix and Jurid brand names for friction products. Honeywell would retain the right to use the Bendix brand
Federal-Mogul Corporation announced it has reached an agreement in principle with its major U.S. creditor
constituencies to the terms of a consensual plan of reorganization. The Official Committee of Unsecured
Creditors, the Official Committee of Asbestos Claimants, the Steering Committee of Pre-Petition Lenders, Icahn
Associates (holder of a significant portion of the company's debt securities) and the Futures Representative have
all agreed to the principal terms of a plan to reorganize the Company and emerge from Chapter 11 free of
asbestos liabilities, with a de-leveraged balance sheet and a much stronger company. The agreement in principle
contemplates, among other things, that noteholders and asbestos claimants will convert all claims, which total in
the billions, into equity in the reorganized company. Specifically, 49.9% of the new common stock will be
distributed to noteholders and 50.1% will be distributed to a trust established pursuant to Section 524(g) of the
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case to Debt Acquisition Company of America V, LLC and Longacre Master Fund, Ltd.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motion for an extension of the exclusive period
during which the Company can file a plan of reorganization and solicit acceptances thereof.
Federal-Mogul Corporation reported its financial results for the fourth quarter and full year of 2002. Fourth quarter
2002 sales were $1,289 million, compared to $1,292 million for the same period last year. For the fourth quarter
2002, Federal-Mogul reported a net loss of $113 million, compared to a net loss of $112 million in 2001. For the
full year, Federal-Mogul posted sales of $5,422 million, compared to full year 2001 sales of $5,457 million. The
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motion to retain AlixPartners, LLC as financial
advisor.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.'s motion for the $28 million sale of its United States'
camshafts business to Asimco.
The U.S. Bankruptcy Court established March 3, 2003 as the final date by which by which claims other than
asbestos-related personal injury claims may be filed against Federal-Mogul Corporation.
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval of an extension of the exclusive
period during which the Company can file a plan of reorganization and solicit acceptances thereof.
Federal-Mogul Corp. filed a Plan of Reorganization with the U.S. Bankruptcy Court. Among other things, the Plan
of Reorganization calls for Company note holders to own 49.9 percent of the Company's new common stock, with
50.1 percent held by a trust established to pay existing and future asbestos claims. In addition, the Company's
approximately $1.6 billion in claims from senior secured lenders would be restructured into a combination of 6.5-
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval of additional time to file its Disclosure
Statement to its Plan of Reorganization.
Federal-Mogul Corporation and Decoma International, Inc. have signed an agreement under which Federal-
Mogul would sell its original equipment molded lighting assembly operations to Decoma International. The
agreement is subject to approval by the U.S. Bankruptcy Court and other conditions. Under the sale agreement,
Decoma International would acquire Federal- Mogul's OE lighting manufacturing facility in Matamoros, Mexico; a
distribution center in Brownsville, Texas; and an assembly operation in Toledo, Ohio. Decoma International would
The U.S. Bankruptcy Court approved an agreement under which Federal-Mogul Corporation would sell certain
original equipment lighting assembly operations to Decoma International Inc. The sale is expected to close on
April 14, 2003. The transaction, including the value of inventory sold to Decoma and assets retained by Federal-
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case to Debt Acquisition Company of America V, LLC and Computer Sales International, Inc.
Federal-Mogul Corporation has completed the sale of its United States camshaft operations to ASIMCO
Camshaft Specialties, Inc. Federal-Mogul received total consideration of approximately US$28 million, including
the sale price and retained accounts receivable of the operations. The sale was completed following approval of
the transaction by the U.S. Bankruptcy Court in Wilmington, Delaware. The sale includes operations at two
locations in Grand Haven, Michigan, and one location in Orland, Indiana, which manufacture camshafts for
passenger car and commercial vehicle applications. The operations sold have about 500 employees and had
Federal-Mogul Corporation reported a first- quarter net loss of $34 million, compared to a net loss of $1.4 billion in
the first quarter of 2002. First quarter 2003 sales were $1,410 million, up 5 percent compared to $1,346 million in
Federal-Mogul Corporation has filed a proposed Disclosure Statement with the U.S. Bankruptcy Court in
Wilmington, Delaware in its Chapter 11 reorganization case. The Court must approve the proposed Disclosure
Statement, which provides additional details to the Plan of Reorganization, before Federal-Mogul can solicit votes
The U.K. High Court issued an order demanding that Royal Sun & Alliance Insurance Group, Plc is liable for
asbestos claims filed by the administrators of Turner & Newall. Turner & Newall is now owned by Federal-Mogul
The U.S. Bankruptcy Court scheduled a June 11, 2003 hearing to consider approving Federal-Mogul Corp.'s
Disclosure Statement related to its Plan of Reorganization, dated April 22, 2003.
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case to Madison Liquidity Investors 119, LLC; Garden City Group, Inc.; and Trade-Debt.net.
Federal-Mogul Corp. announced that its president, Charles McClure, has been named to the additional post of
chief executive officer.
Federal-Mogul Corporation reported financial results for the second quarter 2003. For the second quarter of 2003,
Federal-Mogul posted sales of $1,445 million, up slightly compared to $1,442 million in 2002. Federal-Mogul
reported a second quarter net loss of $5 million, compared to net earnings of $16 million in the second quarter of
Federal-Mogul Corporation advised the U.S. Bankruptcy Court that it has approached Citigroup Venture Capital
Equity Partners, L.P., which has expressed an interest in making an equity investment of $350 million in the
Company. As a condition to proceeding with such an investment, CVC has requested that Federal-Mogul agree to
an exclusive 90-day negotiating period with CVC and to reimburse CVC for necessary fees and expenses
incurred by it in connection with the due diligence review of the Company's business and negotiation of the
possible investment. In a motion filed with the Court, Federal-Mogul asked the Court to approve such exclusive
The U.S. Bankruptcy Court denied Federal-Mogul Corp.'s motion for a 90-day extension of the exclusive period
during which the Company can negotiate with Citigroup Venture Capital Equity Partners, LP.
DaimlerChysler Corp.; Ford Motor Company; and General Motors Corp. filed a lawsuit with the U.S. Bankruptcy
Court. The suit seeks a Court declaration that the planned transfer of Honeywell International, Inc.’s Bendix
Friction Products unit to Federal-Mogul Corp. was “unlawful and invalid.”
Two Owens Corning creditors filed a motion seeking a U.S. Bankruptcy Court order removing U.S. District Judge
Alfred Wolin from overseeing asbestos related issues in the Chapter 11 cases of Owens Corning; Armstrong
World Industries, Inc.; Federal-Mogul Corp.; G-I Holdings, Inc.; and W.R. Grace & Company. The motion alleges
Federa-Mogul Corp.’s president and chief executive officer, Chip McClure, announced that the Company may
require an additional year to emerge from Chapter 11 protection as a result of legal proceedings in both the
United States and the United Kingdom as well as the need to establish an asbestos trust.
Federal-Mogul Corp. announced financial results for the third quarter of 2003, reporting sales of $1,346 million,
compared to $1,345 million in 2002. The Company reported a third quarter pretax loss of $17 million, compared
The U.S. Trustee assigned to the Federal-Mogul case appointed an official committee of asbestos claimants.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.’s motion to retain Anderson Kill & Olick, P.C.
Federal-Mogul Corporation has reached an agreement with the unsecured creditors’ committee, the asbestos
claimants’ committee, the future asbestos claimants’ representative, the agent for the prepetition bank lenders,
and the equity committee (with Federal-Mogul Corporation, collectively, the "Co-Proponents") on an amended
plan of reorganization that will be filed with the U.S. Bankruptcy Court. The agreement on the amended plan is
The U.S. Bankruptcy Court approved Federal-Mogul Corp.’s motion to retain Seyfarth Shaw, LLP as special
litigation counsel in matters related to the Debtors' employee pension plans.
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Liquidity
Investors 119, LLC and Trade-Debt.net.
Federal-Mogul Corporation announced that its board of directors has elected Robert S. (Steve) Miller, Jr., 62, as
non-executive chairman of the board of directors effective January 11, 2004. Miller has been a member of
Federal-Mogul's board since 1993. He replaces Frank E. Macher, 62, who has been serving as chairman of the
As widely reported, Honeywell International, Inc. announced that it has ceased discussions with Federal-Mogul
Corp. Honeywell has been negotiating with Federal-Mogul on the potential sale of Honeywell's Bendix materials
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Trade-Debt Net and
Madison Liquidity Investors 123, LLC.
Federal-Mogul Corporation announced its financial results for the three and twelve months ended December 31,
2003. The Company reported fourth quarter 2003 sales from continuing operations of $1,413 million, an increase
of $174 million when compared to sales from continuing operations of $1,239 million for the same period in 2002.
Sales from continuing operations were favorably impacted by $93 million of foreign currency translation. The
Company reported a net loss from continuing operations of $121 million during the fourth quarter of 2003,
compared to a net loss from continuing operations of $89 million for the same period in 2002. Federal-Mogul
reported sales from continuing operations for the 12 months ended December 31, 2003 of $5,546 million, an
increase of $362 million when compared to sales from continuing operations of $5,184 million for the same period
The U.S. Bankruptcy Court approved Federal-Mogul Corp.’s official committee of asbestos property damage
claimants’ motions to retain Ferry, Joseph & Pearce, P.A. as local counsel; Bilzin Sumberg Baena Price &
Axelrod, LLP as counsel; and J.H. Cohn, LLP as accountant and financial advisor.
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Distressed
Strategies, LLC and Longacre Master Fund, Ltd.
Federal-Mogul Corporation announced that it has jointly filed with the unsecured creditors’ committee, the
asbestos claimants’ committee, the future asbestos claimants’ representative, the agent for the pre-petition bank
lenders, and the equity committee an Amended Plan of Reorganization and related Disclosure Statement with the
U.S. Bankruptcy Court. This Amended Joint Plan of Reorganization has the support of High River Limited
Federal Mogul Corp. delayed the April 13, 2004 hearing to consider approving the Disclosure Statement related to
its Plan of Reorganization. The U.S. Bankruptcy Court has not scheduled a new hearing.
Several parties filed objections to Federal-Mogul Corp.’s Disclosure Statement.
The U.S. Bankruptcy Court scheduled an April 13, 2004 hearing to consider approving Federal-Mogul Corp.’s
Disclosure Statement related to its Amended Joint Plan of Reorganization, filed March 5, 2004.
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Distressed
Federal-Mogul Corp. filed a Second Amended Joint Plan of Reorganization and related Disclosure Statement with
Halliburton announced that DII Industries, Inc. expects to shortly enter into a non-binding agreement in principle
with its solvent domestic insurance carriers that, if implemented, would settle remaining insurance disputes with
those carriers. The agreement in principle would be subject to board of directors' approval of all parties,
agreement by Federal-Mogul Products, Inc. and approval by the Federal-Mogul Bankruptcy Court.
Federal-Mogul Corp. filed a Second Amended Joint Plan of Reorganization and related Disclosure Statement with
The U.S. Bankruptcy Court granted Federal-Mogul Corp. conditional approval of its Disclosure Statement related
to its Plan of Reorganization. Among other things, the Plan places 51% of the reorganized company’s equity into
a trust that will pay its current and future asbestos claims against the Company and the Company’s units. In
The U.S. Third Circuit Court of Appeals in Philadelphia ruled that U.S. District Judge Alfred M. Wolin be removed
from the asbestos-related bankruptcies of W.R. Grace & Company; Owens Corning Corp.; and U.S. Gypsum
Company. Judge Wolin will still preside of the Federal-Mogul Corp. case, and the Appeals Court is yet to rule on
his role in the Armstrong World Industries, Inc. case. The Appeals Court ruling makes it clear that Judge Wolin
neither participated in wrongdoing nor displayed bias; however, certain of his actions gave an appearance of
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Distressed
Strategies, LLC and Trade-Debt.net.
Federal-Mogul Corp. filed a Third Amended Joint Plan of Reorganization and related Disclosure Statement with
Federal-Mogul Corporation announced that U.S. Bankruptcy Court signed an order approving the solicitation and
voting procedures by which the Disclosure Statement describing the Third Amended Joint Plan of Reorganization
can be distributed to Federal-Mogul's creditors and equity holders for voting on the Joint Plan of Reorganization.
Through an earlier order entered June 4, 2004, Judge Lyons approved the Disclosure Statement, finding that it
contained adequate information for creditors and equity holders to vote on the Joint Plan of Reorganization. The
Joint Plan is proposed by Federal-Mogul and by the unsecured creditors’ committee, the asbestos claimants’
committee, the future asbestos claimants’ representative, the agent for the prepetition bank lenders, and the
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Distressed
Federal-Mogul Corp.’s official asbestos claimant committee filed a motion seeking U.S. Bankruptcy Court
approval to retain Weil, Gotshal & Manges LLP - NYC (Contact: Martin J. Bienenstock) as co-counsel at the
following hourly rates: Partners/Counsel at $500 to 775; Associates at $240 to 505; Paralegals at $125 to 225.
Federal-Mogul Corporation announced the appointment of Robert S. (Steve) Miller, Jr. to interim chief executive
officer, pending the appointment of a new C.E.O. Miller is currently non-executive chairman of Federal-Mogul's
board of directors. Miller replaces Charles G. (Chip) McClure, who resigned from the Company. Miller, 62, has
been a member of Federal-Mogul's board since 1993 and served as non-executive chairman of the board from
January 11, 2001 to October 1, 2001. Miller twice previously served in a transitional role as chief executive officer
of Federal-Mogul in 1996, and again in 2000. Most recently, Miller was chairman and chief executive officer of
Federal-Mogul Corp. reported net sales of $1,577 million for the three-month period ended June 30, 2004 for an
increase of 10% over the comparable three-month period of 2003. Income from continuing operations before
income taxes totaled $11 million after recognition of an asset impairment of $20 million. Robert S. (Steve) Miller,
Federal-Mogul Corp.’s chairman of the board and interim chief executive officer, commented, "This is a reflection
of our consistent efforts to create value for our customers through quality and innovation." Federal-Mogul reported
2004 second quarter net sales of $1,577 million, an increase of $149 million or 10% when compared to net sales
Federal-Mogul Corporation has announced that the U.S. Bankruptcy Court has approved the Disclosure
Statement respecting the Third Amended Joint Plan of Reorganization for Federal-Mogul Corporation and certain
of its affiliated companies. The Plan provides for the payment of claims against and interests in the Debtors. The
Plan further proposes a Trust to pay asbestos personal injury and wrongful death claims that relate to exposure to
asbestos or asbestos-containing products manufactured, distributed, sold or possessed by any of the Debtors. If
the Plan is confirmed, all asbestos personal injury and wrongful death claims will be permanently channeled to
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Niche
Opportunities, LLC; Madison Distressed Strategies, LLC; and Stark Event Trading, Ltd.
The U.S. Bankruptcy Court approved Federal-Mogul Corp.’s official committee of property damage claimants’
motion to retain Weil, Gotshal & Manges, LLP as counsel.
Federal-Mogul Corporation announced that it hosted a meeting among representatives of its U.K. workforce, the
creditors’ committee, the Company, the U.K. Administrators, the Trustee of the T&N Pension Scheme, and Carl
Icahn with the goal of resolving the remaining pension scheme issues. The Company believes that much
progress was made toward airing the open issues and, with the assistance of Mr. Icahn, attempting to find
solutions that would be satisfactory to all parties. Mr. Icahn stated that, "We presented a proposal that we believe
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Niche
Opportunities, LLC and Stark Event Trading, Ltd.
Federal-Mogul Corporation has announced that the U.S. Bankruptcy Court approved the Disclosure Statement
describing the Third Amended Joint Plan of Reorganization for Federal-Mogul Corporation and certain of its US
and UK affiliated companies. The Court will consider whether to confirm the Plan at a hearing on December 9,
Federal-Mogul is expanding its presence in China with the opening of a 1,800 square-meter distribution facility in
Shanghai. "This new center is like a seed. It has been planted, and it will grow as our business grows," said
Qingping Zhu, managing director, China. "To us, it is more than just a distribution center. It is a reflection of what
Federal-Mogul wants to achieve in China and the region, in general." Besides acting as a distribution center for
China, the facility will serve many other roles, including the following: components from overseas facilities will be
imported, packed and stored for local distribution or export; products will be assembled into components like
pistons, pins, rings and liners will be assembled into engine sets; locally manufactured products will be packed
and re-distributed; and products will be exported to Asia, Europe and North America. "Our vision for China
includes world-class manufacturing facilities for all of Federal-Mogul's major components, utilizing our leading-
Federal-Mogul Corp. filed a motions seeking U.S. Bankruptcy Court approval to retain Standard & Poor’s
Corporate Value Consulting (Contact: Steven J. Shanker) as valuation services consultant and the official
committee of asbestos property damage claimants’ motion to retain J.H. Cohn, LLP - NYC as
Federal-Mogul Corp. filed a motions seeking U.S. Bankruptcy Court approval to retain Standard & Poor’s
Corporate Value Consulting (Contact: Steven J. Shanker) as valuation services consultant and the official
committee of asbestos property damage claimants’ motion to retain J.H. Cohn, LLP - NYC as
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Madison Niche
Opportunities, LLC; Debt Acquisition Company of America V, LLC; Stark Event Trading, Ltd.; and Longacre
Federal-Mogul Corp. chairman of the board and interim chief executive officer, Steve Miller, announced the
appointment of Joseph Felicelli to the position of executive vice president, worldwide aftermarket operations.
Since 2001, Felicelli served as senior vice president, worldwide aftermarket operations, with responsibility for
Federal-Mogul's global aftermarket operations, including sales, marketing, distribution and logistics, as well as
manufacturing for chassis and brake hard parts, fuel, wipers, ignition and lighting products. "Felicelli is an
invaluable asset to Federal-Mogul. His outstanding leadership skills, coupled with his vast knowledge and
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval to obtain replacement post-petition
financing, authorizing continued use of cash collateral, granting adequate protection to the holders of the pre-
petition obligations, and authorizing entry into commitment letter and related documents for exit financing and
payment of related fees and expenses pursuant. Certain salient terms of the replacement financing are as
follows: $500 million senior priority super secured revolving credit facility (compared to $600 million under the
existing D.I.P. facility); maturity of 12 months from the closing date of the replacement facility; priority and liens
The U.S. Bankruptcy Court approved Federal-Mogul Corp.’s motion to expand the scope of
PricewaterhouseCooper's continued employment and retention to include information technology consulting
services and employ Standard & Poor's Corporate Value Consulting to provide "fresh start" and related valuation
Documents were filed reflecting the transfer of claims in the Federal-Mogul Corp. case to Debt Acquisition
Company of America V, LLC; Madison Niche Opportunities, LLC; Stark Event Trading, Ltd.; and Longacre Master
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case: for creditor Slide Craft in the amount of $44,219.18, to Stark Event Trading, Ltd.; and the amended claim
from Continental International, Transferor ($708.00; Claim No. 3592), to Debt Acquisition Company of America V,
According to documents filed with the U.S. Bankruptcy Court, Federal-Mogul Corp. has caused an indenture
regarding certain notes contemplated to be issued by the reorganized Federal-Mogul pursuant to and subsequent
to confirmation of the Third Amended Plan of Reorganization.
Jefferies & Company, Inc., financial advisor to the official committee of unsecured creditors, has filed a valuation
report with the U.S. Bankruptcy Court for Federal-Mogul Corporation.
Documents were filed with the U.S. Bankruptcy Court reflecting the following transfer of claims in the Federal-
Mogul Corp. case: Howard & Howard (claim No.5394, amount 58,601.82) to Madison Niche Opportunities, LLC;
AGC Chemicals Americas, Inc.(amount 107,952.24) to SPCP Group, LLC; and TI Group Automotive Systems,
The official committee of unsecured creditors of Federal-Mogul Corporation filed a motion seeking U.S.
Bankruptcy Court approval to retain Jefferies & Company, Inc. as the exclusive financial advisor to the Committee
in conjunction with a restructuring. In payment for services rendered, the Company shall pay Jeffries as follows: a
monthly cash fee equal to $175,000 per month (in full, rather than 80%); $350,000 following Jefferies delivery of
Class B Shares Valuation Report; $250,000 upon obtaining commitments for any revolving credit portion of the
exit financing facility, plus $750,000 upon funding of any exit financing facility; and a success fee equal to $5
Documents were filed with the U.S. Bankruptcy Court reflecting the following transfer of claims in the Federal-
Mogul Corp. case: Enterprises, Inc. (claim no.10489, amount 176,525.20) to Longacre Master Fund, Ltd.; to
SPCP Group, LLC; and TI Group Automotive Systems, LLC (amount 827,399.71) to SPCP Group, LLC.
Documents were filed in the U.S. Bankruptcy Court by Federal-Mogul Corp. for an order, pursuant to 11 U.S.C.
Sections 363 and 553 and Fed. R. Bankr. P. 9019, (I) approving settlement between certain debtors, federal,
state and local authorities, PRP Groups, and an individual claimant and (II) approving stipulation between certain
Federal-Mogul Corp. has filed updated financial projections. The updated financial projections append the
Disclosure Statement describing the Debtors Third Amended Joint Plan of Reorganization, which was approved
on or about June 4, 2004.
Principal Life Insurance Company filed an objection to Federal-Mogul Corp.’s motion for final approval of its $1.4
billion loan to be used to fund the Company’s emergence from Chapter 11 protection on the grounds that Citicorp
USA, Inc. would receive an equal or higher-ranking lien on the headquarters facility, for which Principal Life
Federal-Mogul Corp. filed a motion seeking U.S. Bankruptcy Court approval of settlement agreements with the
Environmental Protection Agency and the Internal Revenue Service designed to resolve an asbestos insurance
dispute, a patent infringement lawsuit, and environmental clean-up issues.
Federal-Mogul Corp. reported net sales of $1,511 million and $4,641 million for the three and nine month periods
ended September 30, 2004 representing an increase of 13% and 12% respectively, over comparable periods of
2003. These increases were driven by favorable foreign currency, new business and increased volumes. Federal-
Mogul reported third quarter 2004 net sales of $1,511 million, an increase of $173 million or 13% when compared
The U.S. Bankruptcy Court has approved Federal-Mogul’s motion seeking to obtain replacement post-petition
financing, authorizing continued use of cash collateral, granting adequate protection to the holders of the pre-
petition obligations, and authorizing entry into commitment letter and related documents for exit financing and
payment of related fees and expenses pursuant. Certain salient terms of the replacement financing are as
follows: $500 million senior priority super secured revolving credit facility (compared to $600 million under the
existing D.I.P. facility); maturity of 12 months from the closing date of the replacement facility; priority and liens
Federal-Mogul Corporation filed its September 2004 Monthly Operating Report with the U.S. Bankruptcy Court.
Documents were filed with the U.S. Bankruptcy Court reflecting the following transfer of claims in the Federal-
Mogul case: Brenntag Southeast, Inc. in the amount of $135,214.61 to Stark Event Trading, Ltd.; Southchem, Inc.
in the amount of $3,932.31 to Stark Event Trading, Ltd.; G & G Manufacturing Company in the amount of
The official committee of asbestos property damage claimants of Federal-Mogul Corporation filed a motion
seeking U.S. Bankruptcy Court approval to retain Navigant Consulting, Inc. as asbestos claims consultants at the
following rates: managing director at $375 to 550; director at $350 to 400; associate director at $280 – 350;
managing consulting at $250 to 300; senior consultant at $160 to 250; and consultant at $150 to 175.
Federal-Mogul filed a statement with the U.S. Bankruptcy Court regarding ordinary course professional’s fees and
expenses for the quarter ending September 30, 2004.
Federal-Mogul filed documents with the U.S. Bankruptcy Court noting the amount of compensation requested and
paid to professionals involved in the Company’s bankruptcy case for the third quarter of 2004.
Documents were filed with the U.S. Bankruptcy Court reflecting the following transfer of claims in the Federal-
Mogul case: Gem Gravure Co., Inc. (amount 530.56); Tri Tech Machine Sales (amount 1,041.19); Video Master,
Inc. (amount 291.00); Tennessee Die Supply Co., Inc. (amount 2,607.33); Tennessee Die Supply Co., Inc.
(amount 728.53); Tire Outfitters (amount 662.52); Cycle Net (amount 6,813.99); Ace Florist and Gifts (amount
143.76); Trammell Equipment Co., Inc. (amount 69,813.05); Joseph Construction (amount 7,690.00) to Trade-
Debt.net. Additionally, Micro Products Co. (amount 1,691.75).; Harbor Superstores (amount 1,618.71); Thomas
Financial Publishing (amount 521.86); Repro, Inc. (amount 1,223.93); Subway (amount 98.43); Subway (amount
The U.S. Bankruptcy Court has approved the motion to retain Jefferies & Company, Inc. as the exclusive financial
advisor to the official committee of unsecured creditors of Federal-Mogul Corporation.
A certificate of no objection was filed with the U.S. Bankruptcy Court, (I) approving settlement between certain
debtors, federal, state and local authorities, PRP Groups, and an individual claimant and (II) approving stipulation
between certain Debtors and the United States Government allowing for setoff of claims.
Documents were filed with the U.S. Bankruptcy Court reflecting the transfer of claims in the Federal-Mogul Corp.
case: for Atlantic Property Maintenance, transferor ($1,187.50), to Debt Acquisition Company of America V, LLC.
The official committee of asbestos property damage claimants filed an objection to Federal-Mogul’s Corp.’s Third
Amended Joint Plan of Reorganization.
The U.S. Trustee has filed a limited objection with the U.S. Bankruptcy Court to Federal-Mogul Corp.’s Third
Amended Joint Plan of Reorganization.
Federal-Mogul and Sinterstahl Group have signed an agreement under which Federal-Mogul Corp. would sell its
Dayton, Ohio, powdered metal operation to Sinterstahl Group. The agreement is subject to approval by the U.S.
Bankruptcy Court and other conditions. The Dayton related business--with forecasted sales of approximately $10
million for 2004--develops, manufactures and sells powdered metal automatic transmission components and fuel
and oil pump gerotors for the automotive industry, as well as other powdered metal components for the appliance
industry. The business currently employs 111 people. Under the sale agreement, Sinterstahl Group would acquire
the Dayton facility and related Plymouth, Michigan, R&D assets, as well as all inventory. Federal-Mogul would
Federal-Mogul Corporation(2001)
Business : Automotive Parts Manufacturing
Address:
26555 Northwestern Highway
Southfield, MI 48034
248 354-7700
Contact: Investor Relations
SIC Codes: 3592 3714
Auditor: Ernst & Young
Bankruptcy Case Summary
Bankruptcy Date: 10/1/2001
Case Number: 01-10578
Action Type: 11
District: Delaware
Filing City: Wilmington, DE
Judge: Sue L. Robinson
Company Officers
G. Michael Lynch, CFO
Charles McClure, President & COO
Robert S. Miller Jr., Chairman, President & CEO
Company Description
Federal-Mogul Corporation founded in 1899 and incorporated in Michigan in 1924, is a automotive parts
manufacturer providing innovative solutions and systems to global customers in the automotive, small engine,
heavy-duty and industrial markets. Federal-Mogul Corp. manufactures engine bearings, pistons, piston pins,
rings, cylinder liners, camshafts, sintered products, sealing systems, fuel systems, wipers, lighting, ignition, brake,
friction and chassis products. Federal-Mogul Corporation filed for Chapter 11 protection on October 1, 2001 in the
Company Securities
Common Stock
Traded NYSE; Symbol FMO; 70,600,000 shares outstanding as of 12/31/00
Shareholders
As of September 4, 2001 Dimensional Fund Advisors Inc. owned 82,500 shares, or 6.42% of Common Stock outstanding; FMR
Professionals Retained In This Case
Standard & Poors Corporate Value Consulting
Contact: Steven J. Shanker
1221 Avenue of the Americas
New York, NY 10020
Phone: 212 512-2360
Retained By: Debtor
Retained As: Valuation Services Consultant
J.H. Cohn LLP - NYC
Contact: Staff
1212 Avenue of the Americas
New York, NY 10036
Phone: 212 297-0400 Fax: 212 922-0913
Retained By: Asbestos Property Damage Claimants
Retained As: Accountant/Financial Advisor
Weil, Gotshal & Manges LLP - NYC
Contact: Martin J. Bienenstock
767 Fifth Avenue
New York, NY 10153-0001
Phone: 212 310-8530 Fax: 212 310-8007 Email: martin.bienenstock@weil.com
Retained By: Asbestos Committee
Retained As: Co-Counsel
Notes: Reimbursement of actual, necessary expenses plus hourly rates: Partners/Counsel at $500 to 775; Associates at $240
Bilzin Sumberg Baena Price & Axelrod, LLP
Contact: Scott L. Baena
200 South Biscayne Boulevard
Suite 2500
Miami, FL 33131
Phone: 305 374-7580 Fax: 305 374-7593
Retained By: Asbestos Property Damage Claimants
Retained As: Counsel
Herbert Smith
Contact: Stephen Gale
Exchange House
Primrose Street
London, En EC2A 2HS
Retained By: Future Asbestos-Related Claimants
Retained As: English Co-Counsel
Notes: Hourly Rates: Stephen Gale at $450; Gillian Dobby at $360; Nicola Hargreaves at $225
Lovells, Inc.
Contact: Laurence Crowley
65 Holborn Viaduct
London, En EC1A 2DY
Phone: 4402072962000 Email: laurence.crowley@lovells.com
Retained By: Asbestos Claimants Committee
Retained As: International Counsel
Notes: Hourly Rates: Partners at $345-625; Senior Associates at $265-400; Junior Associates at $195-255
Analysis, Research & Planning Corp.
Contact: B. Thomas Florence
1850 M. Street NW, Suite 850
Washington, DC 20036
Retained By: Future Asbestos-Related Claimants
Retained As: Asbestos Consultant
Notes: Hourly Rates: Principals at $350-450; Senior Consultants at $250-350; Consultants at $180-250; Analysts at $125; 200
Resolutions, Inc.
Contact: Douglas C. Allen
155 Federal St.
Boston, MA 2110
Phone: 617 556-0800
Retained By: Future Asbestos-Related Claimants
Retained As: Consultant
Notes: Hourly Rates: Mr. Allen at $250; Ms. Kern, executive assistant at $60
Zolfo Cooper LLC
Contact: Steven G. Paragos
292 Madison Avenue
New York, NY 10017
Phone: (212) 213-5555 Fax: (212) 213-1749
Retained By: Future Asbestos-Related Claimants
Retained As: Bankruptcy Consultant
Notes: Hourly Rates: Principals at $500-675; Professional Staff at $225-495; Support Personnel at $75-200
Gibbons, DelDeo, Dolan, Griffinger er al
Contact: Frank J. Vecchione
One Riverfront Plaza
Newark, NJ 07102-5497
Phone: 973-596-4521 Fax: 973-639-6250 Email: fvecchione@Gibbonslaw.com
Retained By: Debtor
Retained As: Counsel for Debtor
Notes: Hourly Rates: Partners at $260-600; Associates at $150-240; Paraprofessionals at $80-125
Bates White & Ballentine
Contact: Dr. Charles E. Bates
2001 K Street NW, Suite 700
Washington, DC 20006
Phone: 202 408-6110 Fax: 202 408-7838 Email: charles.bates@bateswhite.com
Retained By: Unsecured Creditors Committee
Retained As: Asbestos-Related Bodily Injury Consultant
Notes: Hourly Rates: Dr. Charles Bates at $660; Dr. Halbert White at $660; David Deramus at $412.50; other professionals fro
Young, Conaway, Stargatt & Taylor, LLP
Contact: James L. Patton Jr.
Rodney Square North, P.O. Box 391
11th Floor
Wilmington, DE 19899-0391
Phone: 302 571-6600 Fax: 302 571-1253 Email: jpatton@ycst.com
Retained By: Legal Representative of Future Claimants
Retained As: Counsel
Notes: Hourly Rates: James L. Patton at $475; Edwin J. Harron at $330; Timothy Lengkeek at $220; Sandi Van Dyk at $115
L. Tersigni Consulting, PC - NYC
Contact: Loreto T. Tersigni
One Dag Hammarksjold Plaza
New York, NY 10017
Retained By: Asbestos Claimants Committee
Retained As: Accountant/Financial Advisor
Notes: Hourly Rates: Managing Director at $425; Director at $320; Senior Manager at $290; Manager at $240; Professional St
Legal Analysis Systems
Contact: Mark A. Peterson
970 Calle Arroyo
Thousand Oaks, CA 91360
Phone: 805 499-3572
Retained By: Asbestos Claimants Committee
Retained As: Asbestos-Related Bodily Injury Consultant
Notes: Hourly Rates: Mark A. Peterson at $500; Daniel Relles (Statistician) at $330; Patricia Ebener (Data Collection Expert) a
Campbell & Levine - Wilmington
Contact: Matthew G. III Zaleski
201 N. Market St. 15th Floor
Wilmington, DE 19801
Retained By: Asbestos Claimants Committee
Retained As: Delaware/Associated Counsel
Notes: Hourly Rates: Members at $225-350; Paralegals at $120-225; Legal Assistant at $90
Caplin & Drysdale Chartered
Contact: Elihu Inselbuch
399 Park Avenue
New York, NY 10022-4614
Phone: 212 319-9240 Email: ej@capdale.com
Retained By: Asbestos Claimants Committee
Retained As: National Counsel
Notes: Hourly Rates: Elihu Inselbuch at $630; Peter Van N. Lockwood at $500; Walter B. Slocombe at $475; Julie W. Davis at
Professor Elizabeth Warren
Contact: Elizabeth Warren
Hauser 200
Harvard Law School
Cambridge, MA 2138
Phone: 617 495-3101 Fax: 617 496-6118 Email: ewarren@law.harvard.edu
Retained By: Asbestos Claimants Committee
Retained As: Special Bankruptcy Consultant - Caplin & Drysdale
Notes: Hourly Rate: $675.
Ashurst Morris Crisp
Contact: Nicholas J. Angel
712 Fifth Avenue 21st floor
New York, NY 10019
Phone: 212 245 4540 Fax: 212 245 4335 Email: nick.angel@ashursts.com
Retained By: Unsecured Creditors Committee
Retained As: Special Counsel
Notes: Hourly Rates: Partners at $600; Senior Associates at $400-500; Junior Associates at $290-400; Trainees at $165-190;
KPMG - NYC
Contact: Larry Lattig
345 Park Avenue
New York, NY 10154-0102
Phone: 212 758-9700 Fax: 212 758-9819
Retained By: Unsecured Creditors Committee
Retained As: Accountant/Financial Advisor
Notes: Hourly Rates: Partner at $510-570; Director at $420-480; Manager at $330-390; Senior Associate at $240-300; Associa
Jefferies & Co. - Los Angeles
Contact: William Q. Derrough
11100 Santa Monica Blvd. 8th Floor
Los Angeles, CA 90025
Phone: 310 445-1199
Retained By: Unsecured Creditors Committee
Retained As: Financial Advisor
Notes: $125,000 Monthly Fee plus other fees, including Success Fees.
W.Y. Campbell & Co.
Contact: Andre A. Augier
One Woodward Ave.
Detroit, MI 48226
Phone: 313 496-9000 Fax: 313 496-9001 Email: aaugier@campbell.com
Retained By: Debtor
Retained As: Investment Banker Re: Camshaft Group
Bayard Firm
Contact: Charlene D. Davis
222 Delaware Avenue
Suite 900
Wilmington, DE 19899
Phone: 302 655-5000 Fax: 302-658-6395 Email: cdavis@bayardfirm.com
Retained By: Unsecured Creditors Committee
Retained As: Co-Counsel to Unsecured Creditors Committee
Notes: Hourly Rates: Directors at $300-415; Associates at $175-260; Paralegals at $115-125
Sonnenschein Nath & Rosenthal - NYC
Contact: Peter D. Wolfson
1221 Avenue of the Americas
New York, NY 10020
Phone: 212-768-6700 Fax: 212-768-6800 Email: pwolfson@sonnenschein.com
Retained By: Unsecured Creditors Committee
Retained As: Co-Counsel to Unsecured Creditors Committee
Notes: Hourly Rates: Partners at $325-600; Associates at $217-183; Paraprofessionals at $138-183
Ernst & Young - Detroit
Contact: Kevin F. Asher
500 Woodward Ave. Suite 1700
Detroit, MI 48226
Phone: 313 628-7100 Fax: 313 628-7101
Retained By: Debtor
Retained As: Auditors/Accountant/Tax Advisor
Notes: Hourly Rates Include: For Accounting/Auditing Services - Senior Managers at $238-333; Managers at $188-237; Senio
Coblence & Warner PC
Contact: Paul J. Hanly
415 Madison Ave.
New York, NY 10017
Phone: 212 593-8000
Retained By: Debtor
Retained As: Special Asbestos Litigation Counsel
Notes: Hourly Rates: Attorneys at $175-475; Paraprofessionals at $90-150
Dykema Gossett PLLC
Contact: Aleksandria A. Miziolek
400 Renaissance Center
Detroit, MI 48243
Phone: 313 568-6762 Fax: 313 568-6893 Email: amiziolek@dykema.com
Retained By: Debtor
Retained As: Special Corporate Counsel
Notes: Hourly Rates: Attorneys at $135-355; Paraprofessionals at $95-150
Gilbert Heintz & Randolph
Contact: Scott D. Gilbert
1350 I Street Suite 200
Washington, DC 20005
Retained By: Debtor
Retained As: Special Counsel
Notes: Hourly Rates: Attorneys at $165-500; Paraprofessionals at $80-95
Penningtons
Contact: Paul Hadow
Buckersbury House
83 Cannon St.
London, En EC4N 8PE
Retained By: Debtor
Retained As: Special Counsel
Notes: Hourly Rates: Partners at $285-405; Associates at $245; Senior Solicitors at $190-235; Paralegals at $110-140
PricewaterhouseCoopers - Detroit
Contact: Jeffery J. Stegenga
400 Renaissance Center
Detroit, MI 48243
Phone: 313 394-6000 Fax: 313 394-6555
Retained By: Debtor
Retained As: Financial Advisor
R.R. Donnelley & Sons Company
Contact: Carmel Sardone
77 West Wacker Drive
Chicago, IL 60601
Phone: 312.326.8167 Fax: 312.326.8667
Retained By: Debtor
Retained As: Claims Agent
Rothschild, Inc.
Contact: Todd R. Snyder
1251 Avenue of the Americas
New York, NY 10020
Phone: (212) 403-3500 Fax: (212) 403-3501
Retained By: Debtor
Retained As: Financial Advisor/Investment Banker
Notes: $200,000 Monthly Fee, in addition to other fees.
Sitrick & Company, Inc. - Los Angeles
Contact: Michael Sitrick
1840 Century Park East Suite 800
Los Angeles, CA 90067
Phone: 310 788-2850
Retained By: Debtor
Retained As: Corporate Communications Consultant
Notes: Hourly Billing Rates: $150-575
Spriggs & Hollingsworth
Contact: Stephen A. Klein
1350 I Street NW
Washington, DC 20005
Phone: 202 898-5833 Fax: 202 682-1639 Email: sklein@spriggs.com
Retained By: Debtor
Retained As: Special Insurance Counsel
Notes: Hourly Rates: Partners at $250-365; Associates at $170-260; Paralegals at $100-210
Stout Risius Ross, Inc.
Contact: Jeffrey M. Risius
40 Oak Hollow Suite 200
Southfield, MI 48034
Phone: 248 208-8800 Fax: 248 208-8822 Email: jrisius@gosrr.com
Retained By: Debtor
Retained As: Appraisers
Notes: Standard Billing Hourly Rates: $110-350
Acclaris, LLC
Contact: Staff
2002 N. Lois Ave. Suite 480
Tampa, FL 33607
Phone: 813 873-2020
Retained By: Debtor
Retained As: Counsel to Debtor
Notes: Hourly Rates: Laura Davis Jones at $455; James E. ONeill at $370; Scotta McFarland at $370; Michael Migliore at $17
Sidley Austin Brown et.al - Chicago
Contact: Larry Nyhan
One First National Plaza
Suite 4500
Chicago, IL 60603
Phone: 312 853-7710 Fax: 312 853-7036 Email: lnyhan@sidley.com
Retained By: Debtor
Retained As: Counsel for Debtor
Notes: Hourly Rates: Partners at $340-650; Associates at $160-375; Paraprofessionals at $80-160
Employees: 50000
Assets: $10,150,000,000
EIN: 380533580
Counsel for Debtor
Pachulski, Stang, Ziehl,
Young & Jones
Laura Davis Jones
919 N. Market Street
16th. Floor
Wilmington, DE 19899-
8705
302 652-4400
n Stock outstanding; FMR Corporation owned 136,000 shares, or 10.6%; Robert F. ZurSchmiede owned 103,580 shares, or 8%; Hugh G. Ha
775; Associates at $240 to 505; Paralegals at $125 to 225.
50; Analysts at $125; 200
50; other professionals from $165-$330.
Sandi Van Dyk at $115
r at $240; Professional Staff at $160-185; Paraprofessional at $80
(Data Collection Expert) at $240; Mary Gail Brauner (Statistician) at $185; Gregory Ridgeway (Statistician) at $150
at $475; Julie W. Davis at $365; Trevor W. Swett III at $360; Nathan D. Finch at $290; Rita C. Tobin at $265; Kimberly N. Brown at $265; Be
0; Trainees at $165-190; Paralegals at $140
ciate at $240-300; Associate at $150-210; Paraprofessional at $120
agers at $188-237; Seniors at $126-162; Staff at $86-116; Paraprofessionals at $29-46. For Actuarial Services - Principal at $425; Manager
egals at $110-140
0; Michael Migliore at $175
,580 shares, or 8%; Hugh G. Harness owned 130,275 shares, or 10%; W.T. ZurSchmiede Jr. owned 165,905 shares, or 12.9%; Thomas Zu
Kimberly N. Brown at $265; Beth Helenman at $210; Paralegals at $115-135
s - Principal at $425; Manager at $360; Staff at $165
5,905 shares, or 12.9%; Thomas ZurSchmiede owned 87,597 shares, or 6.8%; and all Directors and Executive Officers owned 544,255 shar
ecutive Officers owned 544,255 shares, or 42.4%
Federal-Mogul Corporation(2001)
Business : Automotive Parts Manufacturing
Address:
26555 Northwestern Highway
Southfield, MI 48034
248 354-7700
Contact: Investor Relations
Bankruptcy Claims
20 Largest Unsecured Claims
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$564,000,000.00
Claim Type: 7.5% Senior Notes due 2009
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$564,000,000.00
Claim Type: 7.5% Senior Notes due 2009
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$395,000,000.00
Claim Type: 7.375% Senior Notes due 2006
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$395,000,000.00
Claim Type: 7.375% Senior Notes due 2006
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$392,000,000.00
Claim Type: 7.75% Senior Notes due 2006
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$392,000,000.00
Claim Type: 7.75% Senior Notes due 2006
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$341,000,000.00
Claim Type: 7.875% Senior Notes ue 2010
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$341,000,000.00
Claim Type: 7.875% Senior Notes due 2010
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$240,000,000.00
Claim Type: 7.5% Senior Notes due 2004
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$240,000,000.00
Claim Type: 7.5% Senior Notes due 2004
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$103,000,000.00
Claim Type: 8.8% Senior Notes due 2007
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$103,000,000.00
Claim Type: 8.8% Senior Notes due 2007
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$32,000,000.00
Claim Type: 8.37% Medium Term Notes due 2001
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$32,000,000.00
Claim Type: 8.37% Medium Term Notes due 2001
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$15,000,000.00
Claim Type: 8.25% Medium Term Notes due 2005
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$15,000,000.00
Claim Type: 8.25% Medium Term Notes due 2005
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$12,000,000.00
Claim Type: 8.33% Medium Term Notes due 2001
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$12,000,000.00
Claim Type: 8.33% Medium Term Notes due 2001
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$10,000,000.00
Claim Type: 8.16% Medium Term Notes due 2003
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$10,000,000.00
Claim Type: 8.12% Medium Term Notes due 2003
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$10,000,000.00
Claim Type: 8.16% Medium Term Notes due 2002
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$10,000,000.00
Claim Type: 8.12% Medium Term Notes due 2003
Bank of New York
101 Barclay Street
New York, NY 10286
914-773-5666
Contact: Paul Schmalzel
Amount:$5,000,000.00
Claim Type: 8.46% Medium Term Notes due 2002
State Street Bank & Trust; Global Investor Services Group
PO 78
Boston, MA 01102-0778
617-662-1770
Contact: Brian Curtis
Amount:$4,050,000.00
Claim Type: IRB
NTN Corporation
22193 Network Place
Chicago, IL 60673-1221
847-298-7500
Contact: Accounts Payable
Amount:$3,101,346.42
Claim Type: Trade Payable
NTN Corporation
22193 Network Place
Chicago, IL 60673-1221
847-298-7500
Contact: Accounts Payable Department
Amount:$3,101,346.42
Claim Type: Trade Payable
Cummins Corporation
Box 3005
Columbus, IN 47202-3005
812-377-5000
Amount:$2,955,000.00
Claim Type: Promissory Note
Cummins Corporation
PO 3005
Columbus, IN 47202-3005
812-377-5000
Amount:$2,955,000.00
Claim Type: Promissory Note
Waupaca Foundry
Box 68-9343
Milwaukee, WI 53268-9343
715-735-4951
Amount:$2,034,255.21
Claim Type: Trade Payable
Waupaca Foundry
PO 68-9343
Milwaukee, WI 53268-9343
715-735-4951
Contact: Waupca Foundry
Amount:$2,034,255.21
Claim Type: Trade Payable
National City Bank of Indiana
101 W. Washington Street
Indianapolis, IN 46255
317-267-7000
Contact: Cheryl Flaherty
Amount:$1,605,000.00
Claim Type: Logansport IRB
National City Bank of Indiana Corporate Trust Dept.
101 W. Washington Street
Indianapolis, IN 46255
317-267-7000
Contact: Cheryl Flaherty
Amount:$1,605,000.00
Claim Type: 1994 Logansport IRB
Leggett & Platt Incorporated
135 Front Street
Monroe City, MO 63456
573-735-4567
Contact: Leggett & Platt Inc.
Amount:$1,222,483.42
Claim Type: Trade Payable
Leggett & Platt Incorporated
135 Front Street
Monroe City, MO 63456
573-735-4567
Amount:$1,222,483.42
Claim Type: Trade Payable
Kasper Industries, Inc.
356 Expressway Court
Gaylord, MI 49735
989-705-1177
Amount:$1,015,896.50
Claim Type: Trade Payable
Kasper Industries Inc.
356 Expressway Court
Gaylord, MI 49735
989-705-1177
Contact: Kasper Industries Inc.
Amount:$1,015,896.50
Claim Type: Trade Payable
General Electric Company
1975 Nobles Road
Cleveland, OH 44139
800-518-8519
Contact: Accounts Payable
Amount:$947,845.28
Claim Type: Trade Payable
General Electric Company
Accounts Payable Department
1975 Noble Road
Cleveland, OH 44139
800-518-8519
Contact: Accounts Payable Department
Amount:$947,845.28
Claim Type: Trade Payable
Employees: 50000
Assets: $10,150,000,000
EIN: 380533580
Federal-Mogul Corporation(2001)
Business : Automotive Parts Manufacturing
Address:
26555 Northwestern Highway
Southfield, MI 48034
248 354-7700
Contact: Investor Relations
Creditors Committees:
Asbestos Claimants
Clinton Dale Ferguson
P.O Box 886
119 Caldwell Drive
Hazelhurst, MS 39083
601-894-4088
Dominick Bellissimo
707 Grant St.
Pittsburgh, PA 15219
Don & Marlene Henderson
171 12th St. Ste 300
Oakland, CA 94607
510-465-7728
Contact: Steven Kazan
Marcella Montagna
The Centrum
3102 Oak Lawn Ave. Ste 1100
Dallas, TX 75219
214-521-3605
Contact: Russell W. Budd
Marie Del Mato
180 Maiden Lane
New York, NY 10038
212-558-5500
Paul L. Overstreet Jr.
12350 Jefferson Ave. Ste 360
Newport News, VA 23602
757-223-4500
Contact: Donald N. Patten
Richard Shupbach
2001 Main St. Ste 600
Wheeling, WV 26003
304-233-0777
The Estate of Joseph Arnold
1901 Penton Media Bldg.
1300 East Ninth Street
Cleveland, OH 44114
216-575-0777
Contact: Michael V. Kelley
Unsecured Creditors Committee
Aspen Advisors LLC
152 West 57th Street
New York, NY 10019
561-223-0089
Contact: Neil Subin
Cummins Inc.
500 Jackson St.
Columbus, IN 47201
812-377-9632
Contact: Paul Malone II
Leggett & Platt Aluminum Group
75 N. East Ave. Ste 401
Fayetteville, AR 72701
501-443-1455
Contact: Steffan B. Sarkin
NTN Bearing Corp of America
1600 E. Bishop Court
Mt. Prospect, IL 60056
847-298-7500
Contact: Craig K. Dunn
Teachers Insurance and Annuity Association of America
730 Third Avenue
New York, NY 10017
212-916-6139
Contact: Roi G. Chandy
U.S Bank Trust National Association
1420 Fifth Ave. 7th Flr.
Seattle, WA 98101
206-344-4654
Contact: Lawrence Bell
Employees: 50000
Assets: $10,150,000,000
EIN: 380533580