Specialty Products Loses Bid To Stay $1B Asbestos Ruling

Law360, New York (August 20, 2013, 5:15 PM EDT) -- Specialty Products Holding Corp. lost its bid to stay a Delaware bankruptcy court's decision pegging its asbestos-related liability at $1.1 billion while it attempts to appeal the ruling directly to the Third Circuit, according to an order filed Tuesday.

U.S. Bankruptcy Judge Peter J. Walsh denied Specialty Products’ motion to hold off on that determination or at least to suspend any proceedings based on it, rebuffing arguments that Specialty Products would likely succeed with its “substantial and strong” appeal.

The chemical manufacturer contended that it is...
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