Specialty Products Wants $1B Asbestos Appeal In 3rd Circ.

Law360, Wilmington (June 18, 2013, 10:47 PM EDT) -- Specialty Products Holding Corp. sought permission Tuesday to go directly to the Third Circuit with its appeal of a Delaware bankruptcy court's decision pegging its asbestos-related liability at $1.1 billion, saying a quick resolution of the issue has implications for its case and others.

U.S. Bankruptcy Judge Judith K. Fitzgerald issued an opinion May 20 estimating Specialty Products' current and future liability for asbestos-related mesothelioma claims at $1.1 billion, a figure that eclipsed its various projections by hundreds of millions of dollars.

Specialty Products asserted that...
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