(Reuters) - The case involves ACandS Inc., a former insulation
installing unit of Armstrong World Industries Inc., which filed
for bankruptcy protection several years ago under the weight of
about 270,000 asbestos-related injury claims. ACandS had looked
to insurers such as Travelers to help cover many of those
claims.
St. Paul, Minnesota-based Travelers said the trust will be
established as part of ACandS' reorganization plan. It expects
net settlement costs of $365 million after passing $84 million
of the total cost to its reinsurers.
Read more at Reuters.com Bonds News
installing unit of Armstrong World Industries Inc., which filed
for bankruptcy protection several years ago under the weight of
about 270,000 asbestos-related injury claims. ACandS had looked
to insurers such as Travelers to help cover many of those
claims.
St. Paul, Minnesota-based Travelers said the trust will be
established as part of ACandS' reorganization plan. It expects
net settlement costs of $365 million after passing $84 million
of the total cost to its reinsurers.
Read more at Reuters.com Bonds News
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