Proposed $600,000 Deal Resolves Claims Between Budd Co., Martinrea
(July 13, 2016, 10:01 AM EDT) -- CHICAGO — Chapter 11 debtor The Budd Co. Inc. sought approval June 29 in Illinois federal bankruptcy court of a settlement under which Canadian automotive parts manufacturer Martinrea International Inc. will pay Budd $600,000 to resolve claims against each other, including an indemnification claim by Martinrea for an asbestos personal injury lawsuit (In re: The Budd Company, Inc., No. 14-11873, N.D. Ill. Bkcy.).
(Motion and settlement available. Document #48-160715-015M.)
Budd filed a Chapter 11 petition in March 2014 in the U.S. Bankruptcy Court for...