Hearings start on National Gypsum reorganization.

Lawyers will try to put Dallas-based National Gypsum Co. on a course to reorganization during hearings that began Dec. 7 in U.S. Bankruptcy Court in Dallas.

During two weeks of hearings scheduled for December and two weeks scheduled for January, lawyers will present testimony, financial information, objections and a host of other information related to two proposed reorganization plans put on the table this fall, according to court records and attorneys involved.

U.S. Bankruptcy Judge Steven Felsenthal on Sept. 4 approved two proposals -- one by the company and one by bondholders and trade creditors -- to reorganize $1 billion in bond debt for the building …