Drywall Co., Insurer Settle Asbestos Coverage Suit

Law360, New York (October 22, 2009, 2:33 PM EDT) -- Drywall company KCG Inc. has reached a settlement with a unit of The Travelers Cos. Inc. in a declaratory judgment suit for defense and indemnification costs stemming from hundreds of personal injury lawsuits over asbestos-containing building materials made by KCG's predecessors.

The judge overseeing the case in the U.S. District Court for the District of Kansas dismissed the suit Wednesday, a day after the parties lodged a joint stipulation notifying the court that they had reached an agreement.

Each party was to pay its own costs...
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