Washington, DC, August 24, 2006--Congoleum Corp., said Thursday in a regulatory filing that the U.S. Bankruptcy Court in Trenton, N.J., has set a hearing for Sept. 11 to consider approval of its settlement with Century Indemnity Co.
As reported, Congoleum reached a deal with Century Indemnity under which the insurance company will pay $16.95 million into trust set aside for the benefit of people with asbestos claims against the flooring manufacturer.
The deal brings the total settlements to date to more than $207 million, Congoleum said.
The Mercerville, N.J.-based manufacturer, which hopes to emerge from bankruptcy next year, said settlement negotiations will continue with other carriers.
