2nd Circ. Mulls Travelers' Exit From $510M Asbestos Deals

Law360, New York (January 10, 2013, 3:22 PM EST) -- The Second Circuit expressed skepticism Thursday about whether Travelers Indemnity Co. could ditch agreements to pay $510 million to thousands of asbestos victims, despite the insurer's arguments that the settlements were invalidated when part of a bankruptcy court's order was overturned.

Travelers insists that the settlements required a final order insulating the company from any future lawsuits involving its handling of asbestos claims against Johns-Manville Corp. Although a bankruptcy court granted Travelers that relief in a 2004 clarifying order, the Second Circuit later struck down part...
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