Drywall Co., Insurer Resolve Asbestos Coverage Spat

Law360, New York (September 15, 2010, 6:26 PM EDT) -- Drywall company KCG Inc. has agreed to drop its suit claiming Stonewall Insurance Co. is obligated to pay for KCG's defense and indemnification in hundreds of underlying lawsuits that allege exposure to asbestos in building materials made by the company's predecessors resulted in physical harm.

Judge John W. Lungstrum of the U.S. District Court for the District of Kansas on Tuesday granted the parties' Aug. 27 joint stipulation of dismissal of the action and ordered each party to bear its own costs and expenses.

Pursuant to...
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