Judge OKs Debtor’s Proposed Fund For Asbestos Insurance Settlements

(December 16, 2020, 8:51 AM EST) -- PITTSBURGH — A Pennsylvania federal bankruptcy judge on Nov. 23 entered a default order allowing Chapter 11 debtor ON Marine Services Company LLC to establish a qualified settlement fund (QSF) to hold nearly $31 million in insurance settlement proceeds earmarked for an asbestos personal injury trust (In re:  ON Marine Services Company, LLC, No. 20-2007, W.D. Pa. Bkcy.)....