We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

3rd Circ. Says Insurers Can Challenge GIT Ch. 11 Plan

Law360 (May 4, 2011, 4:39 PM EDT) -- The Third Circuit ruled Wednesday that a group of insurers can challenge asbestos claims provisions of Global Industries Technologies Inc.'s bankruptcy plan, a precedential move dissenting judges say improperly lowers the threshold for claiming injury in bankruptcy proceedings.

After an en banc hearing, six circuit judges vacated a Pennsylvania district court's ruling that had denied the appellants — a group that includes Hartford Accident and Indemnity Co., Century Indemnity Co. and Twin City Fire Insurance Co. — standing to challenge GIT's reorganization plan, which the insurers...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.