Insurer Must Pay Bankrupt Manufacturer's Asbestos Claims

Law360, New York (October 6, 2011, 4:14 PM EDT) -- An Ohio-based insurance company is on the hook for millions of dollars in asbestos-related health claims after an Illinois federal judge ruled last week that it could not skirt a provision in its policy held by a bankrupt materials manufacturer.

U.S. District Judge Sharon Johnson Coleman partially granted Artra 524(g) Asbestos Trust's request for summary judgment, ruling that Transport Insurance Corp. must pay the full amount of any health claims, rather than simply covering the pennies on the dollar the trust can afford to pay claimants....
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