Law360, New York (December 15, 2008, 12:00 AM ET) -- In a move that will test the limits of U.S. bankruptcy courts’ jurisdiction, the U.S. Supreme Court has agreed to hear an appeal to reinstate a $500 million settlement blocking asbestos-related lawsuits against Travelers Cos. Inc., insurer of one of the world’s largest asbestos producers.
The justices agreed to hear the case, on appeal from the U.S. Second Circuit Court of Appeals, on Friday, consolidating two cases — Travelers Indemnity Co. v. Bailey and Common Law Settlement Counsel v. Bailey.
“A careful review of the district...
High Court To Hear Travelers Asbestos Liability Case
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