Judge Sides With Company, Cuts Asbestos Liability More Than $1 Billion

"A federal judge in Charlotte has delivered a startling victory for industries that are part of the country’s long-running asbestos-liability fight, cutting more than $1 billion from what a company owes to current and future victims."

"U.S. Bankruptcy Judge George Hodges accepted the $125 million figure proposed by Garlock Sealing Technologies, a Palmyra, N.Y., subsidiary of EnPro Industries of Charlotte.

The amount covers claims for mesothelioma, a rare and deadly cancer of the lining of the lungs and one of a host of diseases linked to asbestos. Attorneys representing current and future mesothelioma victims had asked the court to set liability at $1.3 billion."

Michael Gordon reports for the Charlotte Observer January 13, 2014.

Source: Charlotte Observer, 01/14/2014