Garlock decision could have pushed Bondex’s asbestos agreement

WILMINGTON, Del. (Legal Newsline) – A law professor and bankruptcy attorney agree that a loss for asbestos plaintiffs attorney earlier this year in the Garlock Sealing Technologies proceeding could have been a major factor in Bondex’s recently announced bankruptcy settlement.

RPM International’s bankruptcy settlement of its subsidiary Bondex’s asbestos liability is roughly $660 million more than it believed was appropriate and came during what could have been a successful appeal, but it is also roughly $800 million less than a judge ordered the company to pay in 2013.