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Federal Mogul Corp, a maker of components for cars, trucks and construction vehicles, has rolled into bankruptcy because of asbestos claims. With 49,000 employees, its interest is in keeping their sales chart healthy and reorganizing to stay solvent. Their assets of $9.053.2 million outweigh their liabilities of $8,634.2 million, even though their Net Inc. for 2001 was ($1,146 million). Accessing some interesting documents is a click away:

"Opinion Letter on Dispute Regarding Investigation by the Committee of Unsecured Creditors whether it should bring Fraudulent Conveyance Proceedings on Behalf of the Debtors Regarding certain Prepetition Security Interests" dated Sep 12, 2002 : Pdf - 169KB

"Memorandum Opinion on Appeal of the Committee of Equity Security Holders of Federal Mogul Corp. from Court Order Limiting Compensation to its Financial Advisors" dated Oct 29, 2002 : Pdf - 208KB

"Response of Official Committee of Equity Security Holders to Debtors' Motion for an order (1) Establishing Bidding procedures and Break-up Fee Arrangements and (2) Approving Letter of intent involving the Sale of a Portion of Federal Mogul Ignition Company's Automotive Lighting Business to Decoma International" from Aug 16, 2002 : Pdf - 235KB