Garlock Strikes $358M Accord With Future Asbestos Claimants

Law360, New York (January 14, 2015, 10:22 AM EST) -- Garlock Sealing Technologies LLC has reached an "unprecedented" agreement with future asbestos claimants in its bankruptcy case that includes a $358 million settlement of all asbestos injury claims against the company and a revised reorganization plan.

The future asbestos claimants and Garlock's parent company, EnPro Industries Inc., announced the accord Tuesday night, saying the amended plan "provides generous payments to all claimants with a compensable disease and meaningful contact with [Garlock's] asbestos-containing products during the course of their working careers."

EnPro said the current after-tax value of the plan will be $205 million, and that it expects an additional pre-tax amount...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS