Judge Greenlights $17M Congoleum Settlement

Law360, New York (September 14, 2006, 12:00 AM EDT) -- A federal court judge has approved the settlement reached last month in the asbestos-related class action suit filed against bankrupt flooring maker Congoleum Corp., paving the way for the financially strapped company to add another $16.95 million to the trust established for asbestos victims.

The U.S. District Court for the District of New Jersey approved the settlement, which Congoleum reached with insurer Century Indemnity on Aug. 22.

The $17 million settlement brings the total amount of insurance settlements reached to $207 million, and the company said...
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