Insurer, Manufacturer Trust End $5M Asbestos Coverage Row

Law360, New York (May 18, 2012, 6:02 PM EDT) -- Ohio-based Transport Insurance Corp. and the trust for a bankrupt materials manufacturer agreed Friday to resolve their dispute over $5 million in coverage the trust had sought from the insurer as the manufacturer faces more than $1 billion in asbestos-related health claims overall.

In a motion to stay the dispute in Illinois federal court, the Artra 524(g) Asbestos Trust and Transport said the two had agreed on a settlement in principle and that they were in the process of finalizing the settlement agreement. Terms of the...
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