|Michael F. Easley, Governor
Pamela T. Young, Chair
Buck Lattimore, Commissioner
Laura K. Mavretic, Commissioner
Danny L. McDonald, Commissioner
Christopher Scott, Commissioner
Dianne C. Sellers Commissioner
TO: All Interested Parties
FROM: Pamela T. Young, Chair
DATE: February 8, 2008
RE: Joan Fabrics Corporation
On April 11, 2007, Joan Fabrics Corporation (hereinafter “Joan Fabrics”) filed a petition for Chapter 11 bankruptcy in the United States Bankruptcy Court for the District of Delaware (hereinafter “Bankruptcy Court”). Joan Fabrics was a Tyngsbourough, Massachusetts-based producer of specialty textiles founded in 1932.
Joan Fabrics was self-insured for its workers’ compensation claims from July 1, 1992 to August 22, 2005. On July 5, 2007, the Bankruptcy Court entered a Sale Order for the sale of substantially all of Joan Fabrics’ assets, which closed on July 20, 2007. Thereafter, Joan Fabrics continued to pay its workers’ compensation claims through until August 17, 2007. The Chapter 11 filing and subsequent default constitute an insolvency under the Security Act, pursuant to N.C. Gen. Stat. § 97-135. As a result, the Security Association has become obligated to pay “covered claims” against Joan Fabrics. All claims should be directed to the Security Association as follows:
Ms. Catherine R. Stuart
Stuart Law Firm, PLLC
4101 Lake Boone Trail
Raleigh, North Carolina 27607
(919) 787-6050, Fax: (919) 787-9988
It appears that Joan Fabrics has a limited number of claims in North Carolina. Any individuals who believe they are entitled to receive benefits pursuant to the Workers’ Compensation Act should immediately contact Ms. Stuart.
Questions or concerns regarding Joan Fabrics claims should be directed to: Stephen T. Gheen, Chief Deputy Commissioner, 919-807-2540 or email@example.com. Due to the volume of inquiries, email communication is requested if possible, though not required.The Industrial Commission website (http://www.ic.nc.gov/) will be updated as needed with additional information.