Bankruptcy Judge OKs $400,000 Deal Reached With Flintkote Asbestos Claimants

(August 19, 2015, 1:02 PM EDT) -- WILMINGTON, Del. — A Delaware federal bankruptcy judge on July 22 approved a settlement in the Chapter 11 case of The Flintkote Co. under which three asbestos claimants who had joined with Flintkote nearly 10 years ago to prosecute alter-ego claims against former Flintkote parent Imperial Tobacco Canada (ITCAN) will receive $400,000 from Flintkote in exchange for dismissal of their claims against ITCAN so Flintkote can resolve all disputes with ITCAN over the debtor’s plan to reorganize (In re: The Flintkote Co., et al., No. 04-11300,...
To view the full article, register now.