Debtor ON Marine Seeks Fund As Repository For Asbestos Insurance Settlements

(November 11, 2020, 9:03 AM EST) -- PITTSBURGH — Chapter 11 debtor ON Marine Services Company LLC asked a Pennsylvania federal bankruptcy court on Nov. 2 for permission to establish a qualified settlement fund (QSF) to hold nearly $31 million in insurance settlement proceeds until the money can be transferred to an asbestos trust for payment to claimants (In re:  ON Marine Services Company, LLC, No. 20-2007, W.D. Pa. Bkcy.)....