Law360, New York (December 02, 2010, 8:29 PM ET) -- National Union Fire Insurance Co. of Pittsburgh, Pa., is petitioning the U.S. Supreme Court to consider whether debtors in Chapter 11 cases need to give administrative priority to and pay in full the cost of necessary insurance purchased during the bankruptcy.
The petition, filed Monday, arose out of a U.S. Court of Appeals for the Sixth Circuit decision upholding a ruling that VP Buildings Inc., a subsidiary of LTV Steel Co. Inc., did not have to make payments to National Union on workers' compensation insurance that...
High Court Petitioned On Ch. 11 Insurance Payments
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