Yarway Sues To Shield Parent Tyco From Asbestos Claims

Law360, Chicago (May 7, 2013, 8:01 PM EDT) -- Defunct industrial manufacturer Yarway Corp. launched a suit Monday to protect its Swiss parent Tyco International Ltd. and other nondebtor affiliates from the asbestos claims that tipped the company into bankruptcy last month.

Filed in Delaware bankruptcy court, the adversary suit targets dozens of asbestos plaintiffs firms and hundreds of their clients who have already sued Yarway, seeking to extend the automatic stay in the company's Chapter 11 case to cover Tyco for any pending or future asbestos claims associated with Yarway.

Since Yarway's bankruptcy filing...
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