A Federal Court of Appeal in New York has ruled that Travelers Cos. must pay out more than $500 million to victims of diseases caused by asbestos under a settlement proposal which was first approved by a judge way back in 2004.
New York based Travelers was ordered to pay the amount under settlements which arose from the bankruptcy of Johns Manville Corporation, which was formerly the largest supplier of asbestos and asbestos-containing products in the country
Travelers had been the main insurer of the Johns Manville, which filed for bankruptcy in the 1980s, at the same time as they were facing claims related to asbestos exposure.
The proposed payout has been going back and forth in various courts, and in 2009, the U.S. Supreme Court overturned a ruling allowing suits against Travelers by those who had been harmed as a result of asbestos exposure, and revived the $500 settlement.
If you or someone you know is suffering from an asbestos related disease, such as mesothelioma, asbestosis, or lung cancer, contact the Law Office of Brayton Purcell, LLP at (800) 598-0314 immediately, or contact us online for a free consultation. You may be entitled to an asbestos payout as part of an individual or class action lawsuit.
