Asbestos Committee, Insurer Spar Over Coverage Available To Oakfabco

(December 22, 2016, 9:25 AM EST) -- CHICAGO — Under settled Illinois law, the maximum possible recovery from an insurer to Chapter 11 debtor Oakfabco Inc. for asbestos claims is $20 million, so any settlement of coverage disputes between the insurer and the debtor must be based on that amount, the Asbestos Claimants’ Committee (ACC) in Oakfabco’s case says in a Dec. 8 response to the insurer’s request for summary judgment in federal bankruptcy court (In re:  Oakfabco, Inc., No. 15-27062, N.D. Ill. Bkcy.)....