A judge OKd $730 million in Manville settlements.
New York Bankruptcy Judge Burton Lifland approved the out-of-court settlements that Manville Corp. reached with 27 of its 29 liability insurers and insurance brokers over claims by asbestos victims. Manville had sued its insurance carriers and brokers in 1980, asking a court to determine their obligations to pay. “This is a significant step toward moving our reorganization plan to a final resolution,” said Richard Von Wald, Manville’s corporate counsel.
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