Mealey's Insurance - 2nd Circuit: Bankruptcy Court Order Final; Insurers' Deals With Claimants Valid

Mealey's Insurance - 2nd Circuit: Bankruptcy Court Order Final; Insurers' Deals With Claimants Valid

NEW YORK - The Second Circuit U.S. Court of Appeals on July 22 reinstated a federal bankruptcy court ruling requiring two insurance companies to pay $510 million to asbestos personal injury plaintiffs under decades-old settlements, finding that conditions precedent to payment under the settlement agreements were satisfied (In re: Johns-Manville Corp., $(Common Law Settlement Counsel, Statutory and Hawaii Direct Action Settlement Counsel and Asbestos Personal Injury Plaintiffs v. The Travelers Indemnity Company and Travelers Casualty and Surety Company, FKA Aetna Casualty and Surety Company$), Nos. 12-1094, 12-1150 and 12-1205, 2nd Cir.).

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