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Mealey's Bankruptcy - Flintkote Gets Extensions To Seek Plan Confirmation, Remove Actions

WILMINGTON, Del. - With a second confirmation hearing for The Flintkote Co.'s plan of reorganization set for August, the Delaware federal bankruptcy judge overseeing the case on March 13 gave the debtor more time to file a plan, solicit votes on it and remove bankruptcy prepetition causes of action...

Mealey's Bankruptcy - With Insurance Suit Planned, Law Firm's Duties Expanded In Rapid-American Case

NEW YORK - A New York federal bankruptcy judge on March 16 expanded the services of the special insurance counsel for asbestos personal injury creditors in the Chapter 11 case of Rapid-American Corp. to include insurance coverage litigation expected to be filed against the debtor's remaining excess...

Mealey's Bankruptcy - Florida Panel Reverses Order Compelling Appraisal In Sinkhole Coverage Dispute

LAKELAND, Fla. - A Florida appeals panel on March 13 found that a lower court erred in holding that insureds were entitled to appraisal of their claim for sinkhole damage, reversing, remanding and certifying two questions to the Florida Supreme Court (Florida Insurance Guaranty Association Inc., v. Daniel...

Mealey's Bankruptcy - Florida Panel: State's Insurance Commissioner Cannot Be Compelled To Testify

TALLAHASSEE, Fla. - A Florida appellate panel on March 12 issued a writ of certiorari and quashed a trial court's order compelling the deposition of the state's insurance commissioner in a suit against the accounting firm of three insolvent insurers (Florida Office of Insurance Regulation v....

Mealey's Bankruptcy - West Virginia Governor Signs Bankruptcy Trust Transparency Legislation

CHARLESTON, W.Va. - West Virginia Gov. Earl Ray Tomblin on March 18 signed legislation that proponents hope encourages transparency in asbestos bankruptcy trust filings.

Mealey's Bankruptcy - Pittsburgh Corning's Plan Of Reorganization 'Fatally Flawed,' Insurers Argue

PHILADELPHIA - The Third Circuit U.S. Court of Appeals should reverse approval of Pittsburgh Corning Corp.'s (PCC) plan of reorganization because it improperly relieves PCC's corporate parents and hundreds of affiliates of asbestos liability while establishing a trust controlled by plaintiffs'...

Mealey's Bankruptcy - Bankruptcy Court Judge Denies Conduit Installer's Motion To Reconsider Ruling

RALEIGH, N.C. - A federal bankruptcy court judge in North Carolina on March 27 denied an electrical conduit subcontractor's motion to reconsider or amend a previous ruling denying its motion for summary judgment in a third-party suit brought by a subcontractor that installed a post-tension system...

Mealey's Bankruptcy - 'Each And Every Exposure' Testimony, Garlock Order At Issue In In Limine Motions

LOS ANGELES - A couple asked a federal judge in California on March 30 to exclude a bankruptcy trust estimation order critical of asbestos litigation, while three defendants sought to exclude expert testimony that "each and every exposure" contributes to a disease (Howard Utech, an individual...

Mealey's Bankruptcy - Receiver Asks Court To Certify Order As Final And Appealable

FRESNO, Calif. - The receiver of an insolvent insurer asked a federal court in California on April 1 to certify one of the court's previous orders as final (Thomas T. Hawker, et al. v. BancInsure, Inc., et al., No. 12-cv-01261, E.D. Calif.).

Mealey's Bankruptcy - Bankruptcy Judge Confirms Yarway's $325 Million Chapter 11 Plan

WILMINGTON, Del. - A Delaware federal bankruptcy judge on April 8 confirmed a reorganization plan for Chapter 11 debtor Yarway Corp. that establishes a $325 million trust to process and pay thousands of asbestos injury and wrongful death claims (In re: Yarway Corporation, No. 13-11025, D. Del. Bkcy....

Mealey's Bankruptcy - Bankruptcy Judge Approves Garlock's Disclosure Statement

CHARLOTTE, N.C. - A North Carolina federal bankruptcy judge on April 10 approved the disclosure statement for Chapter 11 debtor Garlock Sealing Technologies LLC's plan of reorganization, established a bar date for asbestos personal injury claims against Garlock, allowed the future claimants'...

Mealey's Bankruptcy - Garlock's Review Procedures For Settled Asbestos Claims Not Needed, Committee Says

CHARLOTTE, N.C. - Garlock Sealing Technologies LLC's proposed procedures for objecting to and disallowing claims of 2,333 people seeking payment for asbestos-related injuries under prepetition settlements with Garlock should be rejected because the procedures are one-sided, unreasonable and unnecessary...

Mealey's Bankruptcy - Allowed Asbestos Claims To Be Paid In Energy Future's Reorganization Proposal

WILMINGTON, Del. - Holders of allowed asbestos personal injury claims against Chapter 11 debtor Energy Future Holdings Corp. (EFH) will be paid in full for their claims, according to a plan of reorganization and disclosure statement filed by the energy company April 14 in Delaware federal bankruptcy...

Mealey's Bankruptcy - New York Bankruptcy Judge Finds Suits Against GM Barred By Sale Order

NEW YORK - A sale order and injunction issued pursuant to Section 363 of the U.S. Bankruptcy Code shields General Motors LLC (New GM) from liability for the majority of ignition-switch suits stemming from conduct on the part of General Motors Corp. (Old GM), a bankruptcy judge in New York held April...

Mealey's Bankruptcy - Creditors Hire Expert For Energy Future's Asbestos Claim Notice Procedures

WILMINGTON, Del. - A Delaware federal bankruptcy judge on April 14 authorized a creditors' committee in the Chapter 11 case of Energy Future Holdings Corp. (EFH) to hire an asbestos noticing expert to evaluate the debtor's proposed procedures for notifying asbestos personal injury claimants of...

Mealey's Bankruptcy - Cleanroom Maker, Insurer To Pay $1M For Victims In Fungal Meningitis Outbreak

BOSTON - The manufacturer of pharmaceutical cleanrooms and its insurer will pay $1 million to settle allegations that defective cleanrooms contributed to a nationwide outbreak of fungal meningitis, according to a settlement agreement proposed April 20 by a bankruptcy trustee (In Re: New England Compounding...

Mealey's Bankruptcy - GM Plaintiffs Tell MDL Judge They Will Appeal Bankruptcy Court Order Barring Suits

NEW YORK - Owners of vehicles containing defective ignition switches on April 29 told the judge overseeing multidistrict litigation against General Motors LLC (New GM) that they intend to appeal a ruling by the U.S. Bankruptcy Court for the Southern District of New York finding that the bulk of ignition...

Mealey's Bankruptcy - Liquidator Asks Court To Approve Recommendation Of Payment To Service Provider

CHICAGO - The liquidator of an insolvent insurer told an Illinois court on April 30 that a claim by a company that had provided services to the insolvent insurer's insureds should be paid, including certain post-judgment interest calculated at Texas' statutory post-judgment interest rate (People...

Mealey's Bankruptcy - Insolvent Insurer's Liquidator Moves To Remand Suit Against Reinsurers

CONCORD, N.H. - The liquidator of an insolvent insurer told a federal court in New Hampshire on May 1 that two reinsurers waived their right to remove an asbestos and environmental claims reinsurance dispute from the state court by agreeing to a service of suit clause in the underlying reinsurance agreements...

Mealey's Bankruptcy - New Texas Insurance Commissioner Succeeds Last Commissioner As Liquidator

AUSTIN, Texas - The special deputy receiver of an insolvent insurer informed a Texas court on May 4 that a newly appointed state insurance commissioner has taken over as liquidator of the insolvent insurer (The State of Texas and the Texas Department of Insurance v. Vesta Fire Insurance Corporation,...

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 - Garlock Releases All Sealed Evidence From Mesothelioma Hearing

CHARLOTTE, N.C. - All unsealed materials from last year's highly publicized mesothelioma liability ruling in the Chapter 11 case of Garlock Sealing Technologies LLC were made public May 18 in a North Carolina federal bankruptcy, with all personal information of claimants redacted (In re: Garlock...

Mealey's Bankruptcy - Plaintiffs Tell Federal Court Claims Against GM Are Not Barred By Bankruptcy Order

HOUSTON - A group of 29 owners of cars manufactured by General Motors LLC (New GM) filed suit in federal court in Texas May 19, asserting personal injury and/or wrongful death claims stemming from accidents linked to defects in their cars, including ignition-switch defects (Dana Danley, et al. v. General...