Supreme Court Denies Petition To Review Ruling In Asbestos Coverage Lawsuit

WASHINGTON, D.C.- (Mealey's) The U.S. Supreme Court on Nov. 30 denied an insurer's petition for certiorari seeking review of the Second Circuit U.S. Court of Appeals' ruling that a 1986 injunction issued in asbestos manufacturer Johns-Manville Corp.'s bankruptcy proceedings does not apply...

Supreme Court Denies Petition To Review Ruling In Asbestos Coverage Lawsuit

WASHINGTON, D.C.- (Mealey's) The U.S. Supreme Court on Nov. 30 denied an insurer's petition for certiorari seeking review of the Second Circuit U.S. Court of Appeals' ruling that a 1986 injunction issued in asbestos manufacturer Johns-Manville Corp.'s bankruptcy proceedings does not apply...

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 ...

Insurance Rights Can Be Assigned To Asbestos Trusts, 3rd Circuit Holds

PHILADELPHIA - (Mealey's) The U.S. Bankruptcy Code trumps anti-assignment provisions in insurance policies, the Third Circuit U.S. Court of Appeals held May 1 ( In re: Federal-Mogul Global Inc., et al. , Nos. 09-2230 and 09-2231, 3rd Cir.; 2012 U.S. App. LEXIS 8814). ( Opinion. Document #48-120529...

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...