Article Number : 1372 |
|
Article Detail |
|
 | |
| Date | 10/4/2006 10:29:37 AM |
| Written By | LGM & Associates Technical Flooring Services |
| View this article at: | //floorbiz.com/BizResources/NPViewArticle.asp?ArticleID=1372 |
| Abstract | TRENTON, N.J.—A federal court approved a settlement that will add $16.95 million to Congoleum’s trust to pay victims who were exposed to the company’s asbestos-containing products. The U.S... |
| Article | TRENTON, N.J.—A federal court approved a settlement that will add $16.95 million to Congoleum’s trust to pay victims who were exposed to the company’s asbestos-containing products. The U.S. Bankruptcy Court signed off on the company’s settlement with insurer Century Indemnity, which, according to Congoleum, brings total insurance settlements in the case to about $207 million. The company will use the settlement money to fund a trust to repay asbestos victims. Congoleum expects to seek approval of the plan’s disclosure statement at an Oct. 19 hearing in the U.S. Bankruptcy Court in Trenton, N.J. |