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

Judge Rejects Congoleum’s $25M Pact With Insurers

Law360 (May 14, 2007, 12:00 AM EDT) -- Delivering another blow to Congoleum Corp., a bankruptcy judge has denied the flooring manufacturer’s request for approval of a $25 million settlement with a band of its insurers, unconvinced that it would be a good deal for creditors.

On Friday, U.S. Bankruptcy Judge Kathryn Ferguson tossed out the tentative agreement between Congoleum and the Travelers Cos. Inc., siding with the representative for future asbestos claimants instead.

"There are too many unanswered questions at this juncture to permit the court to find that this settlement is reasonable...
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.