Insurers Object To Treatment Under Fedders Plan

Law360, New York (August 15, 2008, 12:00 AM EDT) -- Fedders Corp.'s proposed joint liquidation plan has raised the hackles of several insurance companies that claim the plan shouldn't be confirmed because it gives short shrift to the insurers' contractual rights.

"Certain insurers," including ACE Property and Casualty Insurance Co., filed an objection Wednesday to the liquidation plan as it was modified on July 15. Maryland Casualty Company and Liberty Mutual Insurance Co. lodged a separate plan objection Wednesday, and ACE American Insurance Co. and ESIS Inc. filed a limited objection.

ACE and Century Indemnity argue...
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