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Mealey's Bankruptcy - Flintkote Reaches $1.7 Million Settlement With Travelers For Coverage Disputes

WILMINGTON, Del. - Chapter 11 debtor The Flintkote Co. on May 4 sought approval in Delaware federal bankruptcy court of a $1.7 million settlement of insurance coverage disputes with Travelers Casualty and Surety Co., the 20th settlement the debtor has reached with insurers in its decade-long bankruptcy...

Mealey's Bankruptcy - Texas House Approves Asbestos Trust Disclosure Bill

AUSTIN, Texas - The Texas House of Representatives on May 11 voted 126-11 to approve a bill that would require asbestos and silica personal injury claimants suing to recover damages for their diseases to file all claims they have with asbestos and silica bankruptcy trusts before a trial is held.

Mealey's Bankruptcy - House Subcommittee Passes Asbestos Trust Disclosure Bill

WASHINGTON, D.C. - The U.S. House Judiciary Committee on May 14 approved H.R. 526, the Furthering Asbestos Claim Transparency Act of 2015 (FACT Act), by a vote of 19-9.

Mealey's Bankruptcy - Texas Asbestos Trust Disclosure Bill Heads To Governor For Signing

AUSTIN, Texas - The Texas Senate on May 22 overwhelmingly adopted a bill that would force asbestos and silica personal injury claimants to file any claims they have with bankruptcy trusts before a trial could proceed on their tort system claims.

Mealey's Bankruptcy - Bankruptcy Court Closes United Gilsonite Laboratories' Chapter 11 Case

WILKES-BARRE, Pa. - United Gilsonite Laboratories (UGL), the maker of home improvement products Drylock sealant and ZAR wood finish, emerged from Chapter 11 protection on May 28 with the issuance by a Pennsylvania federal bankruptcy judge of a final decree, closing a case filed four years ago to protect...

Mealey's Bankruptcy - Insurers Lack Standing To Oppose Pittsburgh Corning's Reorganization, Debtor Says

PHILADELPHIA - Two insurance companies trying to overturn confirmation of Pittsburgh Corning Corp.'s (PCC) Chapter 11 plan of reorganization do not have standing to object to the plan and present objections that lack merit, so the confirmation ruling should be affirmed, PCC, its corporate shareholders...

Mealey's Bankruptcy - Claimants, Trust Say Garlock's Bid For Information Goes Too Far

CHARLOTTE, N.C. - Discovery proposed by Chapter 11 debtor Garlock Sealing Technologies LLC seeking information from the Manville Personal Injury Settlement Trust on the more than 90,000 asbestos claimants in Garlock's bankruptcy case "is patently excessive and should not be permitted,"...

Mealey's Bankruptcy - Supreme Court: Bankruptcy Lawyers Not Entitled To Fees For Defending Fee Requests

WASHINGTON, D.C. - The U.S. Bankruptcy Code does not allow bankruptcy courts to award fees to attorneys for successfully defending their fee applications, the U.S. Supreme Court held June 15 in a 6-3 decision, affirming a Fifth Circuit U.S. Court of Appeals ruling denying a $5 million fee award to attorneys...

Mealey's Bankruptcy - Texas Governor Signs Asbestos Trust Disclosure Bill

AUSTIN, Texas - Texas Gov. Greg Abbott on June 16 signed a bill that will force asbestos and silica personal injury claimants to file any claims they have with bankruptcy trusts before a trial could proceed on their tort system claims, according to a report by the Texas Legislature.

Mealey's Bankruptcy - Energy Future Holdings Refuses To Give Asbestos Data To Law Firms

WILMINGTON, Del. - Chapter 11 debtor Energy Future Holdings Corp. (EFH) on June 26 denied a request by nine law firms representing tens of thousands of asbestos claimants to provide information on EFH and affiliates about their asbestos use and products and to delay a hearing on setting an asbestos claims...

Mealey's Bankruptcy - New Jersey Property Owner Loses Bid For Reconsideration Of Ruling For Flintkote

WILMINGTON, Del. - A Delaware federal judge on July 14 declined to reconsider his affirmation of a bankruptcy court's grant of summary judgment to Chapter 11 debtor The Flintkote Co. on a corporate property owner's bid for relief from the bankruptcy stay to pursue state and federal environmental...

Mealey's Bankruptcy - Bankruptcy Judge Sets Asbestos Bar Date For Energy Future Claimants

WILMINGTON, Del. - Asbestos personal injury claimants of Chapter 11 debtor Energy Future Holdings Corp. (EFH), including those who have yet to show any signs of asbestos disease, have until Dec. 14 to file proofs of claim in the bankruptcy case, according to an order filed July 15 in Delaware federal...

Mealey's Bankruptcy - Insurer Drops Dismissal Bid In Rapid-American Declaratory Judgment Action

NEW YORK - One of three insurance companies sued by Chapter 11 debtor Rapid-American Corp. and its asbestos creditors for $64 million in remaining policy limits for asbestos claims on July 20 withdrew its dismissal motion in New York federal bankruptcy court in favor of allowing the debtor to file its...

Mealey's Bankruptcy - Insurer: Asbestos Claimants' Negligence Claims Barred By W.R. Grace Injunction

WILMINGTON, Del. - Asbestos personal injury claimants' negligence and bad faith claims against an insurance company are barred not only by an injunction in former Chapter 11 debtor W.R. Grace & Co.'s bankruptcy case but also by past litigation in which the same claims were twice found to...

Mealey's Bankruptcy - Children Of Meso Victim Seek Legal Representative For Unmanifested EFH Claimants

WILMINGTON, Del. - The son and daughter of a man who died from mesothelioma after being exposed to asbestos at a plant operated by an affiliate of Chapter 11 debtor Energy Future Holdings Corp. (EFH) say a legal representative should be appointed in EFH's bankruptcy case to protect the interests...

Mealey's Bankruptcy - Energy Future Holdings Proposes 2 Options For Reorganizing

WILMINGTON, Del. - Chapter 11 debtor Energy Future Holdings Corp. (EFH) on July 23 filed an amended plan of reorganization that includes two options for emerging from bankruptcy, with the company favoring a plan that includes $12.1 billion of new debt and equity arranged by an ad hoc group and the conversion...

Mealey's Bankruptcy - Bankruptcy Judge: Claims Against Insurer Barred By Johns-Manville Injunction

NEW YORK - An asbestosis victim's claims that an insurance company conspired with Johns-Manville Corp. to withhold information from the public on the dangers of asbestos inhalation are barred by nearly 30-year-old court orders confirming Johns-Manville's bankruptcy reorganization plan and issuing...

Mealey's Bankruptcy - New Jersey Property Owner Asks 3rd Circuit To Decide Claims Against Flintkote

WILMINGTON, Del. - A corporate property owner is taking its pursuit of state and federal environmental liability claims against Chapter 11 debtor The Flintkote Co. to the Third Circuit U.S. Court of Appeals, according to a notice of appeal the property owner filed Aug. 5 in Delaware federal court (8...

Mealey's Bankruptcy - Amended Order Clears Way For Garlock Discovery Of Manville Trust Claim Data

CHARLOTTE, N.C. - A North Carolina federal bankruptcy judge on Aug. 5 amended his order allowing Chapter 11 debtor Garlock Sealing Technologies LLC to serve a subpoena on the Manville Personal Injury Settlement Trust for information on the more than 90,000 asbestos claimants in Garlock's bankruptcy...

Mealey's Bankruptcy - Former Boilermaker Enters 2nd Round Of Bankruptcy Due To Asbestos Claims

CHICAGO - Defunct boiler manufacturer Oakfabco Inc. filed a voluntary Chapter 11 petition Aug. 7 in Illinois federal bankruptcy court, with plans to liquidate its assets, establish a multimillion dollar trust with insurance settlement proceeds to pay asbestos personal injury claims and then cancel its...

Mealey's Bankruptcy - Bankruptcy Court Confirms Flintkote's Amended Reorganization Plan

WILMINGTON, Del. - A Delaware federal bankruptcy judge on Aug. 10 confirmed for the second time the Chapter 11 plan of reorganization for The Flintkote Co. and Canadian affiliate Flintkote Mines Ltd. after asbestos claimants voted overwhelmingly to approve the plan and its asbestos personal injury trust...

Mealey's Bankruptcy - Judge Denies Insurers' Bid For Relief From Pittsburgh Corning's Plan Approval

PITTSBURGH - A Pennsylvania federal judge on Aug. 12 denied a request by two insurance companies for relief from the judgment approving Pittsburgh Corning Corp.'s Chapter 11 plan of reorganization, finding that she lacks authority to grant the request and that new evidence relied on by the insurers...

Mealey's Bankruptcy - EPA Says EFH Is Vague About Environmental Liabilities In Disclosure Statement

WILMINGTON, Del. - The amended disclosure statement for the plan of reorganization of Chapter 11 debtor Energy Future Holdings Corp. (EFH) should not be approved because it does not clearly state whether EFH will comply with its obligations under environmental law concerning properties owned and operated...

Mealey's Bankruptcy - Judge To Hear Argument For 2 Suits On W.R. Grace Insurer Liability At Same Time

WILMINGTON, Del. - A Delaware federal bankruptcy judge on Aug. 19 consolidated for oral argument motions to dismiss and for summary judgment in two adversary cases that ask the same question: whether the protective injunction in W.R. Grace & Co.'s Chapter 11 case bars asbestos personal injury...

Mealey's Bankruptcy - Garlock Asbestos Committee: Plan Negotiations Should Remain Confidential

CHARLOTTE, N.C. - Negotiations between asbestos claimants and Chapter 11 debtor Garlock Sealing Technologies LLC in a failed effort to reach a consensus on a plan of reorganization should remain confidential and out of the reach of discovery in the plan confirmation process, the claimants' committee...