Date: 08-18-2004

Case Style: In re: St. Paul Travelers Companies, Inc.

Case Number: 01-40252-ajg

Judge: Burton R. Lifland

Court: United States Bankruptcy Court for the Southern District of New York

Plaintiff's Attorney:

Frank F. Velocci of Drinker, Biddle & Reath, LLP, Florham Park, New Jersey for Petitioner.

Defendant's Attorney: Unknown

Description:

Johns Manville Corporation manufactured and sold asbestos containing products for decades without warming users that the mineral could and did cause asbestosis. As a result hundreds of thousands of people were exposed to the hazards associated with asbestos containing products and were harmed. Travelers Property and Casualty Company insured Johns Manville over a 30 year period. 600,000 plaintiffs claimed that Travelers knew, as did Johns Manville, that asbestos was hazardous to the health and well-being of the end users of the products that Johns Manville manufactured and sold but failed to disclose the information or to otherwise warn the users of the hazards associated with its use.

Travelers sought bankruptcy protection from the claims being asserted against it.

Outcome: Settled for $500 million.

Plaintiff's Experts: Unknown

Defendant's Experts: Unknown

Comments: Editor's Note: As a former insurance defense attorney who represented Raybestos and other asbestos products manufacturing companies and Travelers Insurance Company and a person who has been exposed to asbestos containing products in the work place, I personal have no sympathy for the Travelers, Johns Manville or any other company that manufactured and sold asbestos containing products without warning of the dangerous associated with the products.