  
|
 Chapter 11 Completed USG Corporation and 10 of its subsidiaries initiated a Chapter 11 bankruptcy case in June of 2001 in the United States Bankruptcy Court for the District of Delaware. This action was taken to resolve asbestos claims in a fair and equitable manner, to protect the long-term value of the companies' businesses, and to maintain their leadership position in their markets. USG successfully completed its bankruptcy case and emerged from bankruptcy on June 20th, 2006. Under the court-approved plan of reorganization, all present and future asbestos personal injury claims against USG and the other USG companies that filed have been permanently channeled to an independent personal injury trust that is responsible for administering and paying these claims. The plan also provided for all of USG's other creditors, including its banks, bondholders and suppliers, to be repaid in full, with interest. USG stockholders retained their equity in the company. Further information concerning the bankruptcy and USG's plan of reorganization can be found in the Investor Information section of USG web site under the heading SEC Filings . 
June 20, 2006
USG Corporation announced on June 20, 2006, that it has set Friday, June 30, 2006 as the record date for its previously announced rights offering. USG intends to distribute at no charge to stockholders on the record date one transferable right for each share of common stock held on the record date. 
June 20, 2006
USG Corporation announced that its Plan of Reorganization became effective on June 20, 2006, formally concluding its Chapter 11 proceedings.
April 10, 2006
USG Corporation announced that the Honorable Judith Fitzgerald of the United States Bankruptcy Court for the Western District of Pennsylvania has approved the company's disclosure statement and plan voting procedures, clearing the way for the company to begin soliciting votes from asbestos personal injury claimants for its plan of reorganization.
March 3, 2006
USG Corporation announced today that the company has filed a Registration Statement with the Securities and Exchange Commission for its previously announced $1.8 billion rights offering.
February 23, 2006
CHICAGO, February 23, 2006 - USG Corporation said today that the Bankruptcy Court in its Chapter 11 reorganization case approved its previously announced rights offering backstop agreement.
February 17, 2006
USG Corporation announced that today it has filed with the Bankruptcy Court in Delaware a Joint Plan of Reorganization and an accompanying Disclosure Statement. The Company filed these documents in connection with its plan to emerge from Chapter 11 later this year.
February 1, 2006
USG Corporation, in response to an inaccurate news report, said today that it has not declared a cash dividend with respect to its common stock.
February 2, 2004
Judge Alfred M. Wolin, the judge who is presiding over the asbestos personal injury issues in the USG bankruptcy case, today denied a motion by USG to remove him from the case. USG plans to seek review of the decision.
June 25, 2001
To manage the growing asbestos litigation costs of its United States Gypsum Company subsidiary and to resolve asbestos claims in a fair and equitable manner, USG Corporation filed a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code. The move was also was done to protect the long-term value of USGs business and maintain their leadership position in the market.
|
