A New Jersey-based aluminum company has filed for chapter 11 protection, which has led to it removing an asbestos lawsuit filed against it in Kanawha County (W.Va.) Circuit Court to federal court, the West Virginia Record reported today. Consolidated Aluminum Corp., which ceased operations in 1994, declared bankruptcy on Dec. 15. The company still exists to manage litigation against it. According to its bankruptcy petition, the company has between 100-199 creditors but only between $500,001 and $1 million in assets. Its largest creditor is Lonza America, to which it owes more than $72 million for an intercompany loan.
