Asbestos Claimants Object To Insurer Deals, Say More Coverage Available
(August 25, 2016, 8:26 AM EDT) -- CHICAGO — Two settlements of disputes over insurance coverage for asbestos claims between Chapter 11 debtor Oakfabco Inc. and two groups of insurers should not be approved because the deals “appreciably undervalue the Insurers’ obligations to the estate under insurance policies issued to the Debtor,” the Asbestos Claimants’ Committee on Oakfabco’s case told an Illinois federal bankruptcy court Aug. 1 (In re: Oakfabco, Inc., No. 15-27062, N.D. Ill. Bkcy.).
(Objection available. Document #48-160826-022B.)
Oakfabco filed for bankruptcy protection Aug. 7, 2015, in the U.S....