3rd Circ. Says Insurers Can Challenge GIT Ch. 11 Plan

Law360, New York (May 4, 2011, 4:39 PM EDT) -- The Third Circuit ruled Wednesday that a group of insurers can challenge asbestos claims provisions of Global Industries Technologies Inc.'s bankruptcy plan, a precedential move dissenting judges say improperly lowers the threshold for claiming injury in bankruptcy proceedings.

After an en banc hearing, six circuit judges vacated a Pennsylvania district court's ruling that had denied the appellants — a group that includes Hartford Accident and Indemnity Co., Century Indemnity Co. and Twin City Fire Insurance Co. — standing to challenge GIT's reorganization plan, which the insurers...
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