The 3rd U.S. Circuit Court of Appeals decided a recent asbestos injury case against St. Paul Travelers Companies, potentially exposing the company to more than $1 billion in claim payments, a lawyer involved in the case contends.

Washington attorney David Killalea -- representing the insulation firm of ACandS, which went bankrupt under a mountain of asbestos claims -- called the ruling a "very important victory" for his client against the insurer.

The ruling by a three-judge panel of the court in Philadelphia -- which included U.S. Supreme Court nominee Samuel Alito -- voided a 2003 arbitration that went against ACandS, which had been upheld by the U.S. District Court in Philadelphia.

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