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Chancery Keeps Insurers' Bid To Audit Asbestos Trust Alive

Law360, Wilmington (January 11, 2018, 10:27 PM EST) -- A Delaware Chancery judge declined Thursday to dispatch most of a lawsuit from a group of insurance companies seeking to audit an asbestos personal injury trust, from the bankruptcy of a U.S. unit of Koninklijke Philips Electronics NV, ruling that he needs additional evidence to make a decision.

In a 27-page opinion, Vice Chancellor Joseph R. Slights III wrote that both the six insurance companies suing over their audit rights and the entities targeted in the suit — Philips Electronics North America Corp., T.H. Agriculture &...
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