Bankrupt Insurer Ducks Congoleum Asbestos Coverage

Law360, New York (June 18, 2013, 3:13 PM ET) -- A New Jersey appeals court on Monday upheld a liquidation court ruling that struck bankrupt Congoleum Corp.'s requests for excess insurance coverage from Integrity Insurance Co. for asbestos-related claims because the claims' liability and value allegedly weren't fixed by a deadline in Integrity's amended liquidation closing plan.

The Congoleum Plan Trust told the Appellate Division it only sought approval for claims that were identified, processed and settled before the June 2009 deadline. The Appellate Division said the claims couldn't be approved because Congoleum's reorganization plan —...
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