Article Number: 1372
Court approves Congoleum settlement
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.







Related News

Tuesday, June 27, 2017

At Invista, flooring remains a top priority

Over the last nine months, the flooring operations at Invista have undergone a number of major internal changes, from being separated into its own operating division to having a new president for the business unit that oversees it. Invista’s flooring business, now known as Surfaces, integrates its...read more

USGBC debuts LEED for Healthcare

PHOENIX—The U.S. Green Building Council (USGBC) has introduced its latest green building rating system, LEED for Healthcare. The rating system guides the design and construction of new buildings and major renovations of existing ones, and can be applied to...read more

Northwest trade show up in attendance

LYNNWOOD, WASH.—The 2nd annual Northwest Market & Trade Show, an event hosted by the Washington State Floor Covering Association (WSFCA) and held recently at the Lynnwood Convention Center, was a “huge success,” according to Debbie Tott, the organization’s executive director...read more