Specialty Products' Asbestos Liability Tops $1B, Claimants Say

Law360, Wilmington (February 7, 2013, 10:33 PM EST) -- Bankrupt Specialty Products Holding Corp. has at least $1.1 billion of current and projected asbestos liability, according to a brief filed Wednesday in Delaware bankruptcy court by a committee representing asbestos claimants, a number far above the company’s own estimates.

In the brief, the official committee of asbestos personal injury claimants, joined by a representative for future claimants, put the company’s total asbestos liability between $1.1 billion and $1.25 billion, net present value.

The debtors’ own liability estimate of $135 million to $575 million — filed...
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