From: Breaking Legal News
The Supreme Court on Thursday agreed to let an insurance company
settle some asbestos lawsuits for about 500 million in exchange for
blocking any future litigation resulting from its long relationship
with Johns Manville Corp., once the worlds largest producer of
asbestos. Travelers Cos. had been named in lawsuits alleging that
it tried to hide dangerous health effects of asbestos. The company
argued that asbestos claims must be paid out of a trust created by
Johns Manville in the 1980s and approved by a federal bankruptcy
judge.Asbestos is a mineral that was commonly used until the
mid-1970s in insulation and fireproofing material. Exposure can
increase the risk of lung cancer, mesothelioma and other ailments,
according to federal health agencies.Travelers settled with several
groups of ...
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