Specialty Products Judge Pegs $1.1B For Asbestos Liability

Law360, Wilmington (May 20, 2013, 9:50 PM EDT) -- A bankruptcy judge on Monday estimated Specialty Products Holding Corp.'s current and future liability for asbestos-related mesothelioma claims at $1.1 billion, a valuation that tops the debtors' various projections by hundreds of millions of dollars.

In determining Specialty Products' estimated liability, U.S. Bankruptcy Judge Judith K. Fitzgerald gave credit to calculations provided by the official committee of asbestos personal injury claimants and a representative for future claimants, but declined to accept the debtors' “novel approach” of valuing future claims.

“After considering all of the evidence, exhibits...
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