A judge's ruling that rejects PPG Industries Inc.'s plan to resolve nearly $1 billion in asbestos claims could muddy for years how PPG disposes of the liability, analysts said Friday.U.S. Bankruptcy Judge Judith Fitzgerald said it wasn't legal for PPG -- the world's second-largest car-paint maker -- to dispose of almost all its 116,000 asbestos lawsuits by putting them in a proposed trust in the bankruptcy case of Pittsburgh Corning Corp., an insulation company that PPG co-owns with Corning Inc. Fitzgerald refused to confirm Pittsburgh Corning's amended plan of reorganization, which contains the asbestos work-out proposal. Since 1937, PPG has owned 50 percent of the joint venture.
