A judge has approved McDermott International's plan to settle as many as 300,000 asbestos injury claims with a price tag that will range from $375 million to $955 million for the company, depending on whether Congress creates a national trust fund to handle all such cases. U.S. District Judge Sarah Vance signed off Tuesday on the agreement, contained in a bankruptcy reorganization plan for Babcock & Wilcox Co., a wholly owned McDermott unit that has been the target of asbestos claims.
January 19, 2006 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
A judge has approved McDermott International Inc.’s plan to settle as many as 300,000 asbestos injury claims with a price tag that will range from $375 million to $955 million for the company, depending on whether Congress creates a national trust fund to handle all such cases.
U.S. District Judge Sarah Vance signed off on the agreement Tuesday, contained in a bankruptcy reorganization plan for the Babcock & Wilcox Co., a wholly owned McDermott unit that has been the target of asbestos claims.
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