Businesses have long tried to undermine this pending liability.
G-I HOLDINGS INC., Wayne, N.J., a privately owned holding company and the owner of the GAF Corp., a buildings material and specialty chemicals manufacturer, has filed for bankruptcy protection to resolve pending asbestos liability claims.
"Which means that we will not be able to publish it, pending the liability litigation.
Investors were also mulling news out of bankruptcy court, after a judge approved the restructuring plan of General Motors late Sunday, paving the way for the automaker to transfer the bulk of its assets to a "New GM" while shedding its liabilities, pending the outcome of the expected appeal.
I believe the most pressing issues will be: diminishing financial resources required to maintain public safety and services; unfunded pension liabilities; pending litigation against the city; protecting residential neighborhoods from encroaching development; increased traffic congestion and improving the city's infrastructure; and Bob Hope Airport expansion.
"Unfortunately, this deteriorating economic climate, coupled with a significant, pending IRS tax liability dating back to previous management, has led us to today's difficult action," Halbreich said.
City Manager Terrence Belanger told the council Monday that insurance brokers have indicated that two companies are willing to underwrite Rolling Hills' general liability, pending completion of negotiations within the industry to set rates at which companies can reinsure some of their risk.
Ask, too, for audited financial statements to compare assets to liabilities, including pending or recently resolved lawsuits.
This paper highlights some examples of complex product liability litigation pending in the USA involving automotive, medical and petro-chemical related products.
