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Judge OKs $4.75M Quigley Deal Over Asbestos Claims

Law360 (January 13, 2011, 6:49 PM EST) -- A judge approved a $4.75 million settlement on Thursday between bankrupt Pfizer Inc. subsidiary Quigley and Arrowood Indemnity Co., ending a coverage dispute over asbestos liability policies.

Judge Stuart M. Bernstein issued an oral ruling from the bench in the U.S. District for the Southern District of New York, signing off on the settlement, which will release Arrowood from liability on any future asbestos claims.

The $4.75 million will be paid in installments over five years upon the approval of Quigley's reorganization plan and will be...
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