On December 31, 2003, Congoleum filed a voluntary petition with the United States Bankruptcy Court, as a means to resolve claims asserted against it related to the use of asbestos in its products decades ago. The Company's proposed plan of reorganization provides for, among other things, an assignment of certain rights in, and proceeds of, Congoleum's applicable insurance to a trust, which would fund the settlement of all pending and future asbestos claims and protect the Company from future asbestos-related litigation by channeling all asbestos claims to the Plan Trust under Section 524(g) of the Bankruptcy Code.