Manville Corp. has asked the U.S. Supreme...
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Manville Corp. has asked the U.S. Supreme Court to review a bankruptcy court’s approval of more than $700 million in settlements between the company and 29 insurance carriers for asbestos injury claims. The Minneapolis-based building materials distributor filed for Chapter 11 bankruptcy protection in 1982 because of scores of lawsuits brought by plaintiffs claiming injuries from inhaling asbestos fibers. Although a New York judge confirmed Manville’s reorganization plan in December, 1986, the company remains in bankruptcy proceedings because of appeals against the plan.
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