Mediation Fails In Specialty Products Asbestos Dispute

Law360, Wilmington (March 28, 2012, 9:36 PM EDT) -- Specialty Products Holding Corp. told a Delaware bankruptcy judge Wednesday that court-ordered mediation had failed to resolve disputes over the creation of a trust to handle the company's massive asbestos liability.

Debtor attorney Gregory Gordon of Jones Day said at a court hearing that the company and its parent, RPM International Inc., could not reach a consensus with a committee representing asbestos personal injury claimants on the overall size of the company’s liability and how to fund the trust.

The unsuccessful mediation, with retired California state...
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