Court Endorses Congoleum Insurance Settlement

Law360, New York (April 6, 2006, 12:00 AM EDT) -- In a much-needed boost to Congoleum Corp., a federal bankruptcy judge has approved the company’s $1.4-million settlement with Harper Insurance Ltd., aiding the floor manufacturer’s efforts to pay off thousands of claims over cancer-causing asbestos.

Judge Kathryn Fergus of the U.S. Bankruptcy Court in New Jersey greenlighted the proposal earlier this week, marking the latest in a slew of agreements reached by Congoleum and its insurers.

Congoleum has taken a less combative approach in its relationship with insurers over the last few months in hopes of...
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