Insurers Denied Stay Of Asbestos Company's Reorganization Approval

Insurers Denied Stay Of Asbestos Company's Reorganization Approval

SAN FRANCISCO - Insurance companies seeking to overturn confirmation of Plant Insulation Co.'s Chapter 11 plan of reorganization failed to show that they would be irreparably harmed when the plan takes effect, a California federal judge held Nov. 1 in denying the insurers' request to stay the judge's confirmation orders (In Re: Plant Insulation Company [In Re:  Plant Insulation Company [Fireman's Fund Insurance Company, et al., v. Plant Insulation Company, et al., No. 12-01887, N.D. Calif.; 2012 U.S. Dist. LEXIS 157167]).

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