This case matters to the insurance industry because of who stands behind debtors. National Indemnity Company, a subsidiary of Berkshire Hathaway, acquired the debtors’ parent companies years after the 2004 asset sale, later ceding its acquisition rights to fellow Berkshire affiliate Ringwalt & Lyche Co., which remains the debtors’ ultimate parent company. Through a series of indemnity agreements, National Indemnity currently supports certain asbestos-related successor liability claims against Brenntag. A group of Berkshire-affiliated entities, including National Indemnity, National Liability and Fire Insurance Company, Columbia Insurance Company and Resolute Management, Inc. Appeared as intervenor-appellant in the appeal.
Berkshire Hathaway units win $535 million asbestos-talc bankruptcy judgment & more related News Here
