Sheet Metal Co. Hits Ch. 11 In Wake Of Asbestos Suits
Law360 (September 10, 2018, 6:48 PM EDT) -- Duro Dyne Corp., a manufacturer of sheet metal equipment and accessories, filed for bankruptcy in New Jersey on Friday with lingering liabilities from asbestos exposure litigation dating back 30 years, saying it has exhausted various insurance policies.
The primary driver behind the Chapter 11 filing is the need to tackle the company's asbestos liability, which stems from products it sold that allegedly contained asbestos from the early 1950s to about 1978. As of Friday, Duro Dyne said that it has settled more than 650 asbestos claims and won dismissals of more than 8,100 others. It also faces nearly a thousand pending...
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