O-i glass announces agreement of potential plan of reorganization for paddock subsidiary

Perrysburg, ohio, april 26, 2021 (globe newswire) -- o-i glass, inc. (“o-i glass” or “o-i”) today announced that its wholly owned subsidiary, paddock enterprises, llc (“paddock”), has reached an agreement in principle for a consensual plan of reorganization under section 524(g) of the bankruptcy code. paddock, the official committee of asbestos personal injury claimants (the “acc”), and the legal representative for the future asbestos personal injury claimants (the “fcr”) all agreed to accept the terms of a mediator's proposal regarding a potential consensual plan of reorganization for paddock. o-i glass supports the agreement among paddock, the acc and the fcr that follows a successful court-approved mediation process conducted by kenneth feinberg and the honorable layn r. phillips in connection with paddock's ongoing chapter 11 case.
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