Chipperman
Member
Did not find this in a search, so my apologies if it was already posted.
http://www.boston.com/news/local/articles/2004/10/20/body_armor_firm_files_bankruptcy/
Body armor firm files bankruptcy
Facing lawsuits in Mass., beyond
By Associated Press _|_ October 20, 2004
CENTRAL LAKE, Mich. -- Second Chance Body Armor Inc. filed for Chapter 11 bankruptcy after being hit with lawsuits in Massachusetts and at least nine other states accusing it of selling defective bulletproof vests to police officers.
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One lawsuit blames the company -- the nation's largest manufacturer of soft, concealable body armor for law enforcement -- in the shooting death of a California police officer. Another, brought by the state of Utah, led to a $210,000 settlement.
The bankruptcy petition, filed Sunday, puts the lawsuits on hold while Second Chance tries to work its way out of financial trouble.
"The filing will allow Second Chance management to focus on the management of the business so as to continue to serve its law enforcement and military customers," chief executive Paul Banducci said.
The company announced in September 2003 that it had concerns about Zylon, the synthetic fiber used in the vests. Since then, lawsuits have been filed, federal and state investigations begun, and finger-pointing has ensued between Second Chance and Zylon's producer, Toyobo Co. of Japan. Toyobo has acknowledged that tests show Zylon loses 10 percent to 20 percent of its durability within two years of manufacture. But the company insisted the fiber works well in body armor that is properly constructed.
Second Chance claims to have spared more than 935 wearers from death or serious injury with its products.
Lawsuits have also been filed in Arizona, Texas, Massachusetts, Georgia, Illinois, Connecticut, Arkansas, Pennsylvania, and Minnesota, as well as Utah.
Last year, the Fraternal Order of Police estimated that 200,000 of the nation's 700,000 police officers wear vests made with Zylon, which has also been used by other body armor manufacturers in the United States and Canada.
Second Chance employs about 250 workers at its Central Lake factory and also has operations in Alabama, Massachusetts, England, Germany, and Morocco._
© Copyright 2004 Globe Newspaper Company.
http://www.boston.com/news/local/articles/2004/10/20/body_armor_firm_files_bankruptcy/
Body armor firm files bankruptcy
Facing lawsuits in Mass., beyond
By Associated Press _|_ October 20, 2004
CENTRAL LAKE, Mich. -- Second Chance Body Armor Inc. filed for Chapter 11 bankruptcy after being hit with lawsuits in Massachusetts and at least nine other states accusing it of selling defective bulletproof vests to police officers.
ADVERTISEMENT
One lawsuit blames the company -- the nation's largest manufacturer of soft, concealable body armor for law enforcement -- in the shooting death of a California police officer. Another, brought by the state of Utah, led to a $210,000 settlement.
The bankruptcy petition, filed Sunday, puts the lawsuits on hold while Second Chance tries to work its way out of financial trouble.
"The filing will allow Second Chance management to focus on the management of the business so as to continue to serve its law enforcement and military customers," chief executive Paul Banducci said.
The company announced in September 2003 that it had concerns about Zylon, the synthetic fiber used in the vests. Since then, lawsuits have been filed, federal and state investigations begun, and finger-pointing has ensued between Second Chance and Zylon's producer, Toyobo Co. of Japan. Toyobo has acknowledged that tests show Zylon loses 10 percent to 20 percent of its durability within two years of manufacture. But the company insisted the fiber works well in body armor that is properly constructed.
Second Chance claims to have spared more than 935 wearers from death or serious injury with its products.
Lawsuits have also been filed in Arizona, Texas, Massachusetts, Georgia, Illinois, Connecticut, Arkansas, Pennsylvania, and Minnesota, as well as Utah.
Last year, the Fraternal Order of Police estimated that 200,000 of the nation's 700,000 police officers wear vests made with Zylon, which has also been used by other body armor manufacturers in the United States and Canada.
Second Chance employs about 250 workers at its Central Lake factory and also has operations in Alabama, Massachusetts, England, Germany, and Morocco._
© Copyright 2004 Globe Newspaper Company.