In The News Today – July 23, 2014
The 2nd U.S. Circuit Court of Appeals in New York ruled that Travelers Companies should pay more than $500 million “to satisfy asbestos-related claims stemming from its coverage of policyholder Johns-Manville Corp,” reversing a lower court ruling. According to the ruling, U.S. District Judge John Koeltl “erred in February 2012 when he concluded that the relevant conditions requiring payment had not been satisfied.” (Reuters)