Two lawyers for asbestos victims can keep the $2 million Congoleum Corp. paid them to help resolve tens of thousands of claims against the company shortly before it filed for bankruptcy, thanks to a judge’s May 7 ruling.
U.S. District Judge Joel Pisano in Newark, N.J., found no conflict by the lawyers, who he said were working “to negotiate a prepackaged plan of reorganization under which asbestos personal injury claimants would likely recover more than they would have if Congoleum had gone into a ‘free fall’ bankruptcy.”
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