Travelers Urges 2nd Circ. To Uphold $510M Asbestos Win

Law360, New York (October 3, 2012, 6:28 PM EDT) -- The Travelers Indemnity Co. told the Second Circuit on Tuesday that a district court properly set aside a bankruptcy court's order that it pay about $510 million to fulfill settlements with asbestos injury plaintiffs because the conditions of the settlement agreements were unmet.

The insurer said it agreed to the settlements with plaintiffs bringing personal injury claims against asbestos supplier Johns-Manville Corp. on the condition that a final order was issued insulating Travelers from any claims related to its handling of the asbestos claims, including any...
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