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SAN FRANCISCO - The Ninth Circuit U.S. Court of Appeals on Oct. 28 vacated the bankruptcy reorganization plan for a former asbestos insulator, finding that the plan failed to satisfy the requirements of Section 524(g) of the Bankruptcy Code dealing with...

CHARLOTTE, N.C. - Chapter 11 debtor Garlock Sealing Technologies LLC's total estimated liability for present and future mesothelioma claims is only $125 million, not $1.2 billion as asbestos personal injury claimants argued, because Garlock's...

WASHINGTON, D.C. - The U.S. Supreme Court on June 24 denied a bid for certiorari by Pfizer Inc. of a ruling removing the protection for Pfizer of a bankruptcy injunction barring asbestos personal injury claims entered in the case of a defunct Pfizer subsidiary...

WILMINGTON, Del. - Yarway Corp., a former Pennsylvania company that manufactured pipe clamps, steam traps, valves and controls, filed for Chapter 11 protection April 22 in Delaware federal bankruptcy court due to thousands of asbestos personal injury...

NEW YORK - Bankrupt pharmaceutical company K-V Discovery Solutions Inc. on Dec. 5 moved in the U.S. Bankruptcy Court for the Southern District of New York for approval of a $60 million settlement with Hologic Inc. that would dispose of Hologic's claims...

DETROIT - On remand from a federal appeals court, the judge overseeing the Dow Corning silicone breast implant settlement on Oct. 8 affirmed her four-year-old ruling that breast tissue expanders are covered by the settlement (In Re: Settlement Facility...

BALTIMORE - While two insurance companies are correct that Maryland follows the horizontal exhaustion rule for determining primary and excess policy coverage, the rule must be applied based on the theory of pro-rata allocation, as a former insulation...

NEW YORK - Bankrupt pharmaceutical maker Quigley Co. Inc., a subsidiary of Pfizer Inc., on Nov. 5 moved in the U.S. Bankruptcy Court for the Southern District of New York for an extension of the voting deadline to approve its reorganization plan until...

PHILADELPHIA - The Third Circuit U.S. Court of Appeals on Sept. 4 in two opinions rejected challenges by Canada, Montana and a South Carolina hospital to Chapter 11 bankruptcy debtor W.R. Grace & Co.'s confirmed plan of reorganization, finding...

NEW YORK - Bankrupt pharmaceutical company K-V Discovery Solutions Inc. on Aug. 28 reached an agreement under which it will pay the United States and certain states asserting Medicaid claims $23.8 million to settle criminal fines and claims made against...

NEW YORK - The federal bankruptcy judge presiding over the Chapter 11 proceeding of pharmaceutical company K-V Discovery Solutions Inc. on June 20 granted a motion by bankrupt K-V and approved a $3 million settlement between the company and the State...

WILMINGTON, Del. - With new Chapter 11 debtor Yarway Corp. saying that it needs more time to continue working with asbestos claimants to develop a consensual plan of reorganization for the company, a Delaware federal bankruptcy judge on Nov. 14 gave the...

WILKES-BARRE, Pa. - Asbestos claimants in the Chapter 11 case of United Gilsonite Laboratories (UGL) on June 24 sought permission from a Pennsylvania federal bankruptcy court to pursue fraudulent conveyance and breach of fiduciary duty claims against...

WILMINGTON, Del. - Chapter 11 debtor The Flintkote Co. has the exclusive right to file a plan of reorganization for five more months if it needs to pending the outcome of an appeal of the debtor's already-confirmed plan, according to an order filed...

NEW YORK - The Official Committee of Unsecured Creditors in the Chapter 11 bankruptcy of pharmaceutical company K-V Discovery Solutions Inc. on Feb. 28 moved in the U.S. Bankruptcy Court for the Southern District of New York for an order adjourning the...