Court upholds settlement in asbestos lawsuits
Friday, Jun 19,2009, 12:33:49 AM Click:
Travelers had been named in lawsuits alleging that it tried to hide dangerous health effects of asbestos. The company argued that asbestos claims be paid out of a trust created by Johns Manville in the 1980s and approved by a federal bankruptcy judge.
Travelers settled with several groups of plaintiffs with the caveat that federal courts make clear the company would not have to face any new similar lawsuits.
The 2nd U.S Circuit Court of Appeals in New York overturned lower-court approval of the settlement, saying a bankruptcy judge lacks the authority to act so broadly.
The high court overturned that decision.
You may also be interested in:
- Means strong message to AARP Health Care Reform 'in a Bottle' to members of Congress
- Giving Arms of OC's Largest Companies Grant $145M
- Senators Dig In On Massive Health Care Legislation
- Full-Year 2008 Results Show P / C Industry Well Capitalized
- The Caldwell Partners Issues Fiscal 2009 Year-End Financial Results
Featured
Humana Military Healthcare Services Promotes Flu
Humana Military Healthcare Services, a wholly owned subsidiary of Humana Inc.
Research and Markets: European markets for claims
DUBLIN, Ireland--(BUSINESS WIRE)-- Research and Markets
Argo Pro Announces Argo PROtect for Technology
CHICAGO - (Business Wire) Argo Pro, a division of Argo Group International
National Trust for Historic Preservation and Fireman's
Copyright: Business Wire Source: Business Wire Wordcount: WASHINGTON -
Berkshire Hathaway Explains Investment Losses in
Berkshire Hathaway Inc., in newly released correspondence with the U.S.
Grisolia Richard at the head of marketing for
Copyright: PR Newswire Source: PR Newswire Wordcount: 388 Pawtucket, RI, March
Allied World Reports Record Operating Results in Third
Allied World Assurance Company Holdings, Ltd (NYSE: AWH) today reported net
MOST POPULAR
- Most Read
- Most Discussed
- Most Emailed
- A.M. Best Places Ratings of Forethought Life Insurance Compa
- A.M. Best Downgrades Issuer Credit and Debt Ratings of Jackson National Life Insurance Company and Its Affiliates
- A.M. Best Downgrades Ratings of Bankers Life Insurance Company; Revises Outlook to Negative
- Farmers Insurance(R) Named One of the 'Best Companies to Work For' in the Greater Kansas City Area
- Till Death Do Us Part; How second-to-die life insurance pol
- Chartis Charts Its Path Away From AIG
- A.M. Best Revises Outlook to Negative for AXA Financial, Inc
- Prepared Insurance Strategy Shaped by Florida Regulation, Rates
- Bank of America began to reduce the principal amount of mortgage loan modifications
- A.M. Best Downgrades Issuer Credit Ratings of Primerica Life
-
AIG May Not Attract Buyers to SunAmerica U.S. Variable Annuity Business -
Fitch downgrades the PMI Group's senior debt to 'cut and CC/ -
Farmers Insurance "Team Minnesota" Caravan of tran -
Regulatory Reform, Rewards for Quality Insurers Ahead, Says Chubb Exec -
Global Risk Partners Increases Speed and Accuracy of Risk An -
Good Neighbors at State Farm $ 250,000 Grant for communities -
Reinsurance Group of America to acquire ING Reinsurance U.S. -
Latin America, North America and the Caribbean - Country Ris
Discuss this news
Click Here to see all comments