Asbestos Debtor Gets Better Offers For Claims Against Insolvent Insurer

Mealey's (June 16, 2020, 5:01 PM EDT) -- NEW YORK — A hearing on a request by Chapter 11 debtor Rapid-American Corp. to sell its rights to priority claims in an insolvent insurer’s liquidation case drew more bidders for the claims, and a New York federal bankruptcy judge on June 11 approved the highest offer received at the hearing, bringing in $108,000 more to the bankruptcy estate (In re:  Rapid-American Corporation, No. 13-10687, S.D. N.Y. Bkcy.)....