Share:

Posted by Andrew S. Wainwright on Jan 6, 2015 3:54:00 PM

 

Travelers_umbrellaThe $500 million dollar settlement to pay asbestos victims agreed to twelve years ago by Travelers Insurance has been confirmed by the Second Circuit Court of Appeals. Travelers agreed to settle their obligations to asbestos victims under policies written for their insured Johns-Manville Corp. way back in 2003. (The mediator who oversaw the settlement was the late New York governor Mario Cuomo, who just died this week.)

After agreeing to settle the Johns-Manville asbestos claims for $445,000,000 in 2003, by 2004 Travelers had decided to back out out of the agreement using a variety of implausible arguments. They have used every legal avenue including the Supreme Court, which reinstated the settlement in 2009 but sent the case back to the bankruptcy court for further proceedings. A unanimous panel of the 2nd Circuit confirmed Traveler’s obligation to pay the settlement this summer.  Despite June’s unanimous 3-0 decision from the Second Circuit, Travelers asked the entire 2nd Circuit court (referred to as an ‘enbanc’ petition) to reconsider the unanimous ruling. That request, which was denied by the 2nd Circuit yesterday, added an additional six months of delay to the payment of Travelers’ obligations.

Thornton Law Firm is proud of the tireless work performed by the team of lawyers representing the many asbestos victims included in this settlement, and is gratified that the various courts to hear this matter have held Travelers to its original agreement.

Thornton Law Firm represents tens of thousands of persons harmed by asbestos and asbestos products and we have represented clients against Johns-Manville and Travelers. We have been litigating mesothelioma cases since 1978. If you or a loved one has been diagnosed with mesothelioma or other asbestos-related disease, tell us your story here or call our Massachusetts asbestos attorneys at 888-341-1405. Even though this case has stretched out for more than 10 years, the time limits for bringing action as the injured party are short & strictly enforced. Do not delay seeking legal advice.