Flooring maker Congoleum Corp. recently filed its latest modified plan and disclosure statement with the U.S. Bankruptcy Court for the District of New Jersey, a step that the company said it hopes will bring it closer to Chapter 11 emergence.

Under the terms of the plan, Congoleum would contribute 3.8 million shares to a trust along with $7.3 million cash and 50 percent interest accrued on the company's 8 5/8 percent senior notes. The trust would also be funded by proceeds from Congoleum's insurance policies, the company said.