11th Circ. Nixes Colleges' Challenge Of Celotex Asbestos Deal

Law360, New York (November 7, 2012, 2:02 PM EST) -- The Eleventh Circuit on Tuesday rejected an appeal by six universities and colleges that challenged the sufficiency of an asbestos settlement with bankrupt Celotex Corp., saying the court lacked jurisdiction to review the bankruptcy court's order governing claims for the settlement trust.

In a published opinion, the panel said the Eleventh Circuit was not the forum for the institutions to challenge the settlement amount they received from the trust created by the Chapter 11 bankruptcy of Celotex, an industrial equipment manufacturer, and its subsidiary Carey Canada...
To view the full article, register now.