Merger Standard Frees Insurers From Popcorn Lung Suits

Law360, New York (September 11, 2012, 3:58 PM EDT) -- Two Travelers Cos. Inc. and Zurich Insurance Group Ltd. subsidiaries don't have to help pay for "popcorn lung" liabilities International Flavors & Fragrances Inc. inherited from a company it bought, a New York state appeals court said Tuesday in reversing a lower court's ruling.

According to a ruling from a unanimous intermediate state appeals court panel in Manhattan, a lower court judge should have applied Illinois law — which has a "rigorous" de facto merger standard — to the dispute over insurance coverage for popcorn lung...
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