Bear Stearns buys $2.09 million portion of $15.65 million claim against Armstrong World Industries

By Caroline Salls

Pittsburgh, Oct. 4 - Bear, Stearns & Co. Inc. bought $2.09 million of OCM Opportunities Fund IV, LP's $15.65 million general unsecured claim against Armstrong World Industries, Inc., according to a Tuesday filing with the U.S. Bankruptcy Court for the District of Delaware.

OCM bought the claim from Lehman Brothers Inc., which bought it from original claimant Jefferson Pilot Insurance Co.

Armstrong, a Lancaster, Pa.-based flooring company, filed for bankruptcy on Dec. 6, 2000. Its Chapter 11 case number is 00-04471.

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