Fireman's Fund Says Leslie Plan Slights Insurers

Law360, New York (August 17, 2010, 4:49 PM EDT) -- Fireman's Fund Insurance Co. has launched a challenge to Leslie Controls Inc.'s proposed blueprint for reorganization, saying the plan fails to protect its rights and those of other insurers in the administration of asbestos liability claims.

The objection, filed Monday by John D. Demmy of Stevens & Lee PC in the U.S. Bankruptcy Court for the District of Delaware, claims the valve manufacturer's disclosure statement does not include the kind of “robust neutrality” language that is customary both within and outside the context of an asbestos...
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