On July 22, 2014, the 2nd U.S. Circuit Court of Appeals in New York ordered the reinstatement of a 2011 ruling that Travelers make payments required under a 2004 agreement, plus $65 million of interest.
"Obviously, we're gratified," said Ronald Barliant, a partner at Goldberg Kohn who represents about 1,600 claimants. "Payments should have been made five years ago." Mr. Barliant's comments are included in the article, "Travelers Ordered to Pay Over $550 Million in Asbestos Case," published in the July 22, 2014, edition of Bankruptcy News by Thomson Reuters.
The long-running dispute stems from asbestos claims that pushed Johns-Manville into bankruptcy. The company, which Travelers insured, was the nation's largest supplier of raw asbestos and a manufacturer of asbestos-containing products for more than 30 years.