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Federal-Mogul Asbestos Liability Is Estimated

From Bloomberg News

Federal-Mogul Corp., an auto parts supplier that once made brake pads using asbestos, is subject to an estimated $9 billion in death and injury claims in the U.S. and about $411.3 million in Britain, a U.S. judge decided.

In a recently released opinion, U.S. District Judge Joseph H. Rodriguez in Camden, N.J., said he reviewed trial evidence and data from an asbestos personal injury committee in the company’s bankruptcy case before making the ruling.

Rodriguez said his 64-page ruling wasn’t a confirmation of the company’s reorganization plan but “an estimation of liability for the creation of a personal injury trust” as part of the bankruptcy process.


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