Ansell Settles Ch. 11 Suit Against Exide For $2.7M

Law360, New York (May 16, 2011, 5:16 PM EDT) -- Australian condom and protective clothing maker Ansell Ltd. will get $2.7 million — including getting to keep a $1.3 million insurance setoff — to end marathon contract litigation in the bankruptcy of reorganized battery maker Exide Technologies, according to a settlement reached Thursday.

Delaware bankruptcy Judge Kevin J. Carey shortened the time limit for objections after the proposed settlement was pitched by the parties, setting a May 20 objection deadline and scheduling a May 25 hearing.

The deal wraps up a loose end in the lingering...
To view the full article, register now.