Asbestos Victims Urge 2nd Circ. To Overturn $510M Loss

Law360, New York (October 17, 2012, 5:21 PM EDT) -- Thousands of asbestos victims and their attorneys told the Second Circuit on Tuesday that it should overturn a federal court's order allowing Travelers Indemnity Co. to avoid paying $510 million in settlement funds, arguing that the agreements were finalized by a bankruptcy court's clarifying order.

The settlements, which were signed in 2004, had called for a clarifying order saying the personal injury plaintiffs were barred from bringing further claims against Travelers, but the district court found that the order never had become final because of a...
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