We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Federal-Mogul, AIG Units Reach Asbestos Deal

Law360 (January 14, 2009, 12:00 AM EST) -- An asbestos litigation trust created through the bankruptcy proceedings of auto parts maker Federal-Mogul Corp. has asked a federal court to approve a settlement with eight entities of litigation insurance provider American International Group Inc.

On Tuesday, the Federal-Mogul Asbestos Personal Injury Trust filed a motion in the U.S. District Court for the District of Delaware seeking approval to include the AIG units as protected parties under Federal-Mogul’s bankruptcy plan, in exchange for potentially tens of millions of dollars in payouts.

The settlement would put to...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.