Del. High Court Exposes Insurers To More Asbestos Claims

Law360, New York (December 9, 2013, 9:08 PM EST) -- The Delaware Supreme Court's recent ruling that there is generally no time limit on third-party claims against dissolved corporations will put insurers on the hook for more asbestos lawsuits and other torts related to diseases with long latency periods.

The decision stems from asbestos litigation involving Delaware-based Krafft-Murphy Co. Inc., a plastering company that dissolved in 1999. The Delaware Court of Chancery had ruled that claims filed more than 10 years after Krafft-Murphy dissolved were time-barred.

The state's high court reversed that decision Nov. 26, finding...
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