On July 22, 2014, Bancroft secured a unanimous victory in the United States Court of Appeals for the Second Circuit in Asbestos Personal Injury Plaintiffs v. The Travelers Indemnity Company, No. 12-1094. Reversing a February 2012 decision by the U.S. District Court for the Southern District of New York, the Second Circuit ordered Travelers Cos. to pay more than $500 million to people who suffered from asbestos-related diseases. The settlement stemmed from Travelers’ insurance of the bankrupt Johns-Manville Corporation, an insulation manufacturer, which the plaintiffs believe exposed them to asbestos. The Second Circuit’s ruling reinstates a 2011 U.S. Bankruptcy Court decision in favor of the claimants.
Jonathan Stempel, UPDATE 2-Travelers Ordered to Pay over $500 mln in Asbestos Case, Reuters (July 22, 2014)