NU Online News Service, June 19, 12:22 p.m. EDT
WASHINGTON–A provision in a bankruptcy court settlement for asbestos injury claimants that barred individual lawsuits against carriers was upheld by the U.S. Supreme Court yesterday.
The decision, which has limited application, concerned the settlement agreement involving the formerly bankrupt manufacturer Johns-Manville and its insurer Travelers Indemnity Company that was reached in 1986. The agreement in addition to creating an insurer funded trust to pay claimants barred individual suits.
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