Judge Says Asbestos Trust Should Not Be Forced To Fund Litigation Against Itself
Mealey's (October 6, 2016, 12:08 PM EDT) -- CONCORD, N.H. — A New Hampshire judge on Sept. 23 ruled that the liquidator of an insolvent insurer cannot deduct what is owed to an asbestos settlement trust from money the liquidator pays for the legal expenses of California’s insurance guarantor in a suit against the asbestos trust (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack Co.).
(Order available. Document #10-161028-013R.)
The Home Insurance Co. was placed into liquidation on June 11, 2013, by order of the Merrimack...