07 June 2004 00:01 [Source: ICB]
Dow Corning emerged from Chapter 11 bankruptcy protection in the US last week to begin the settlement of $2.35bn in claims relating to silicone breast implants.
A company spokeswoman for the US silicon producer told ECN there had been no hitches to the previously announced plan, approved in April by a US court.
Claimants include businesses that bought implant material from Dow Corning, plus women who used the implants. The spokeswoman said a website has been set up to speed up the processing of personal claims.
She said that being in Chapter 11 had not held the company back, adding: ‘Over the past few years we have made several investments and acquisitions. Now we are completely focused on the future.’
Dow Corning is a joint venture between Dow Chemical and Corning. In 1995, the company filed for protection under Chapter 11 of the US Bankruptcy Code as thousands of women claimed that the company’s silicone breast implants caused them injury.
The group has frequently stated that the weight of medical evidence implies no association between silicone breast implants and systemic disease.
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