The Supreme Court has decided to uphold a settlement agreement ruling overturned by a lower court.

Mesothelioma Cancer News (Washington) – The Supreme Court has ruled in favor of an insurance company in regards to a settlement agreement that would bar future litigation arising from its relationship with an asbestos producer. As reported by the Associated Press (AP), the High Court ruled this week that Travelers Cos. would be allowed to settle several asbestos lawsuits with an estimated $500 million and not be subject to future lawsuits stemming from its relationship with Johns Manville Corp., which is stated to have been the largest producer of asbestos in the world at one time.

As noted by the AP, the settlement approval was previously blocked by the 2nd U.S. District Court of Appeals, which cited a lack of authority by a bankruptcy judge to grant it.

Justice David Souter is quoted in the report as writing in the court’s opinion, “So long as respondents or those in privity with them were parties to the Manville bankruptcy proceedings, and were given a fair chance to challenge the bankruptcy court’s subject matter jurisdiction, they cannot challenge it now by resisting enforcement of the 1986 orders.”

Mesothelioma Cancer News provides news and information on U.S. asbestos attorneys and law.

Photo Credit: Wikipedia User Wadester16

Tags: , ,