Court Endorses Congoleum Insurance Settlement

Law360, New York (April 6, 2006, 12:00 AM EDT) -- In a much-needed boost to Congoleum Corp., a federal bankruptcy judge has approved the company’s $1.4-million settlement with Harper Insurance Ltd., aiding the floor manufacturer’s efforts to pay off thousands of claims over cancer-causing asbestos.

Judge Kathryn Fergus of the U.S. Bankruptcy Court in New Jersey greenlighted the proposal earlier this week, marking the latest in a slew of agreements reached by Congoleum and its insurers.

Congoleum has taken a less combative approach in its relationship with insurers over the last few months in hopes of...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.