Jun 6, 05:36 PM

Supreme Court Rules Insurers Can Object to $50M Settlement in Unanimous 8-0 Opinion

The U.S. Supreme Court has ruled on June 6, 2024, that insurers have a broad right to weigh in on bankruptcies that may put them on the hook for paying claims. This decision is a significant victory for Truck Insurance Exchange, which challenged the restructuring plan of Kaiser Gypsum, a manufacturer of asbestos-containing products. The ruling allows Truck Insurance Exchange to object to Kaiser Gypsum's proposed $50 million settlement of asbestos-related lawsuits through its Chapter 11 bankruptcy reorganization. The Supreme Court's decision was unanimous, with an 8-0 opinion.

#Truck Insurance Exchange #Kaiser Gypsum #Supreme Court

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