Propex name change approved, reflects asset sale with Xerxes

By Jennifer Lanning Drey

Portland, Ore., July 1 - Propex Inc. received court approval to change its name to Fabrics Estate Holdings Inc., according to a Wednesday filing with the U.S. Bankruptcy Court for the Eastern District of Tennessee.

As previously reported, the name change is required under Propex's asset purchase agreement with Xerxes Operating Co.

Propex is a Chattanooga, Tenn., producer of primary and secondary carpet backing. The company filed for bankruptcy on Jan. 18, 2008, and its Chapter 11 case number is 08-10249.

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