A New York bankruptcy judge Tuesday issued orders that effectively bar tens of thousands of asbestos claims nationwide and provide a fund of about $500 million to pay claims against Travelers Indemnity Co. that relate to the bankruptcy of the Johns-Manville Corp. Although an attorney for Travelers complimented the settlement, three other insurance companies that have filed for relief against asbestos-related direct actions filed objections.
Bankruptcy Judge Puts Brakes on Asbestos Claims
New York Law Journal
August 18, 2004