Insurers Want Details On Pittsburgh Corning Ch. 11 Plan

Law360, New York (April 11, 2012, 12:58 PM EDT) -- Two insurance companies raised objections to Pittsburgh Corning Corp.'s proposed Chapter 11 reorganization plan on Monday, arguing that provisions governing millions of dollars of asbestos settlement payouts are murky and could pose liability hazards for the insurers down the line.

Mt. McKinley Insurance Co. and Everest Reinsurance Co. lodged their concerns in response to a judge's order directing Pittsburgh Corning and its parent, PPG Industries, to describe how the plan and related documents might be used in future insurance coverage litigation. The insurers say the other...
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