Dissolved Company’s Insurer Can’t Get Asbestos Claims Into Kodak Bankruptcy

Mealey's (December 9, 2020, 1:19 PM EST) -- NEW YORK — It would be “grossly inequitable” and likely legally improper under New York law to permit an excess insurer’s argument that a de facto merger occurred and that a dissolved construction company’s asbestos liabilities were “secretly and unknowingly” discharged in a parent company’s bankruptcy years earlier, a federal bankruptcy judge in New York said Dec. 4 in reopening the case but denying relief (In re:  Eastman Kodak Co., No. 12-bk-10202, S.D. N.Y. Bkcy., 2020 Bankr. LEXIS 3393)....