Asbestos Trusts Dodge Specialty Products' Discovery Bid

Law360, Wilmington (July 25, 2011, 3:36 PM EDT) -- A Delaware bankruptcy judge on Monday rejected Specialty Products Holding Corp.’s bid for discovery from trusts set up to handle asbestos claims in bankruptcies, despite the debtor's theory that recent payments from those trusts should reduce its overall asbestos liability.

The company sought a trove of information from the trusts and companies that process asbestos personal injury claims, particularly the amounts paid to settle with people who assert claims against Specialty Products as well. Specialty Products contended that a wave of asbestos-related bankruptcies beginning in 2001...
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