Insurers Rip Pittsburgh Corning's Ch. 11 Asbestos Trust

Law360, New York (May 8, 2012, 6:19 PM EDT) -- Two insurance companies on Monday renewed their opposition to a Pittsburgh Corning Corp.'s Chapter 11 exit plan and its proposal for dealing with asbestos liabilities, asserting that they would be substantially harmed by the measure.

Responding to an April 16 court directive, Mt. McKinley Insurance Co. and Everest Reinsurance Co. lodged a brief delineating the injuries they would suffer as a result of the establishment of an asbestos liability trust proposed as part of the Chapter 11 plan to resolve those claims.

According to the insurers,...
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