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

Congoleum Reaches $17M Insurance Settlement

Law360 (August 23, 2006, 12:00 AM EDT) -- Bankrupt flooring company Congoleum Corp. is one step closer to untangling its messy insurance situation, after Century Indemnity Co. agreed to pay $16.95 million to a trust created to pay off asbestos claims filed against Congoleum.

“We believe this settlement is a major step forward. Given the very active role Century has played in opposing our reorganization efforts and litigating coverage issues, we are quite pleased to have resolved our differences,” said Roger S. Marcus, chairman of Congoleum’s board of directors.

Marcus said that the asbestos...
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.