Article Number : 1372 |
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| Date | 10/4/2006 10:29:37 AM |
| Written By | FloorCoveringNews |
| View this article at: | http://floorbiz.com/BizNews/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. |