Specialty Products Asbestos Creditors Get OK To Sue Parent

Law360, Wilmington (November 13, 2013, 8:23 PM EST) -- Creditors with asbestos-related claims against bankrupt Specialty Products Holdings Corp. won permission Wednesday to sue parent RPM International Inc. over transactions that allegedly transferred 75 percent of the debtors’ assets to RPM while leaving the liabilities behind.

At a hearing in Wilmington, U.S. Bankruptcy Judge Peter J. Walsh granted standing to the committee of asbestos personal injury claimants and the representative for future asbestos claimants, who requested the go-ahead ahead to sue RPM and others on the estate's behalf.

“The issue is not going to go...
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