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W.R. Grace, Insurers Reach $84 Million Settlement

WILMINGTON, Del. - (Mealey's) After a hearing Jan. 10, the bankruptcy judge overseeing W.R. Grace & Co.'s Chapter 11 case in a Delaware bankruptcy court approved an $84 million settlement between the company and a group of insurers to resolve asbestos-related liability coverage disputes ...

3rd Circuit Says Insurers Have Standing In Dispute Over GIT's Silica-Related Liabilities

PHILADELPHIA - (Mealey's) The Third Circuit U.S. Court of Appeals on May 4 held that insurers have standing to challenge the confirmed Chapter 11 plan of reorganization of Global Industries Technologies Inc. (GIT) ( In re: Global Industrial Technologies, Inc., et al. , No. 08-3650, 3rd Cir.). ...

2nd Circuit: Bankruptcy Court Order Final; Insurers’ Deals With Asbestos Claimants Valid

NEW YORK — (Mealey's) 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...