What is the status of the the Dow Corning bankruptcy?
Dow Corning filed for the protection of the United States bankruptcy laws in 1994, which it promptly received.As a result of Dow Corning having filed the petition for bankruptcy, the initial Global Settlement of breast implant claims was destroyed. The act of filing for bankruptcy caused all actions and claims against Dow Corning and its two shareholders, Corning, Inc. and The Dow Chemical Company, to be transferred to the United States District Court for the Eastern District of Michigan, where it has remained to the present. In accordance with bankruptcy law, Dow Corning was provided an opportunity to propose a Plan of Reorganization which would outline its plan for repaying its creditors and for compensating the victims of its products, including breast implants.
