9th Circuit Vacates Asbestos Bankruptcy Reorganization; Says Trust Isn't In Control

9th Circuit Vacates Asbestos Bankruptcy Reorganization; Says Trust Isn't In Control

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 control by asbestos trusts (In Re: Plant Insulation Co., Fireman's Fund Insurance Company, et al. v. Plant Insulation Company, Nos. 12-17466 and 12-17467, 9th Cir.).

Find full version on lexis Advance®
Access this news story on lexis.com®