Congoleum Beseeches Court To Release $3.7M

Law360, New York (August 25, 2006, 12:00 AM EDT) -- Bankrupt flooring company Congoleum Corp. has asked a New Jersey bankruptcy court for permission to be repaid $3.7 million in legal costs related to more than 100,000 asbestos claims filed against the company.

On Wednesday, Congoleum argued in court papers that it is entitled to a multimillion- dollar reimbursement for legal costs incurred during 2003 and 2004.

While most of the company’s asbestos-related claims and defense costs had been paid by primary insurance coverage, the insurers maintained that the policies had been exhausted as of August...
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