Hints and tips:
...Lloyd’s has sought to rebuild its reputation after a scandal two decades ago, when a spike in asbestos and liability-related claims almost triggered the collapse of the market....
...PMI-owned Benson & Hedges Inc, JTI-Macdonald Corp, owned by JTI, and Rothmans have also said that they will appeal....
...Major building materials makers including Owens Corning and USG Corp, among others, also filed for bankruptcy under the weight of asbestos litigation....
...Restructuring costs dragged down annual pre-tax profits at Silverdell, the asbestos removal specialists that a fortnight ago announced plans to buy rival EDS Group for a minimum of £15m....
...Mortgages are “asbestos for banks,” they write, especially for Bank of America, obviously. In this table the analysts show the possible FHFA targets for four banks, based on the UBS suit....
...Last year, Berkshire received $2bn in premiums to cover the asbestos liabilities of the insurer CNA Financial Corp....
...AIG’s performance was held back by a $4bn operating loss at its Chartis unit, which sells insurance for commercial property and aircraft, and boosted reserves related to asbestos cases and workers’ compensation...
...Jerre Stead, who helped steer Armstrong’s board into Chapter 11 following asbestos litigation described Mr Lorch in one interview as “ a career guy who had a wonderful company....
...the world’s largest pharmaceutical company by market value took significant impairment charges relating to its acquisition of rival Wyeth last year and set aside hundreds of millions of dollars to cover asbestos...
...Asarco entered 2005 facing escalating asbestos and environmental damage claims worth billions of dollars....
...It had started life as an in-house department in a shipyard, which, it turned out, had used it as a shell in which to place massive asbestos liabilities....
...Across from the Glass Bottle site, Joe Doyle, a council worker and local resident, says: “They told us they had cleared the site of asbestos. What they’ve left us with is a toxic property asset.”...
...RSA Insurance advanced by 1 per cent to 127¾p as analysts at Cazenove played down the claimant risk from benign lung scarring caused by asbestos, a condition known as pleural plaques....
...Loaded down with debt, 100-year-old Asarco entered the new millennium facing liabilities relating to asbestos poisoning, lead poisoning, and environmental damage....
...But it lost control after placing the company in Chapter 11 bankruptcy protection in 2005, when a worker strike coincided with multi-billion-dollar claims against the company for asbestos poisoning and other...
...The resurgence in acquisitions underlines the fact that the Lloyd’s insurance market has come a long way from the dark days of the early 1990s, when it almost collapsed under the weight of asbestos-related...
...Corning fell 8.7 per cent to $21.95 after new research linked asbestos to cancer of the larynx. Last month Corning restated a part of its 2005 financial results that concerned an asbestos settlement....
...One company with extensive experience of Amteus – it worked with the company in developing the software – is Kitsons Environmental Europe, a specialist in asbestos removal and thermal insulation based in...
...Earlier this week it admitted to “material weakness” in its internal controls concerning accounting for asbestos litigation....
...Jefferson County, Mississippi, is the world centre of asbestos litigation....
...Swiss engineering group ABB rose 2.7 per cent to SFr16.90 after reporting on Saturday that a $1.43bn bankruptcy plan for its combustion engineering division in the US had been finalised and that no asbestos...
...But the turnaround of a company only recently dogged with slow growth and expensive asbestos liabilities has failed to ignite much enthusiasm among shareholders....
...For the first few years the majority of cases related to asbestos, product negligence or tobacco....
...The latest settlements come as US lawmakers work on a US asbestos compensation fund....
...Georgia-Pacific has also been blighted by asbestos litigation – a concern for many investors nervous of estimating future liability....
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