Asbestos Manufacturer Attempts to Limit Liability in Settlement Payouts
The Story: Garlock Sealing Technologies is attempting to exit bankruptcy by proving that it is not liable for the totality of its victims’ claims. The company is disputing the claimants’ $1.3 billion in damages, asserting that it will owe only $125 million in payments. Garlock is a maker of asbestos gaskets; asbestos is proven to cause lung…