NY, Insurers Disagree
On Painting DamagesALBANY, N.Y. - More than 2,000 claims worth an estimated $700,000 are still outstanding as two insurers and the New York Attorney General argue about who should pay for damage stemming from a bridge painting project.
The incident occured last year when the Skyway Bridge in Buffalo was being spray-painted. According to the claims filed, drops of paint were carried through the air and onto cars, boats and buildings. The contractor, Smalis Co., was working for the state Department of Transportation. The spray- painting occurred from April through November, 1985.
The state is trying to get Zurich American Insurance, which already honored 1,100 claims, to pay the remainder, according to Nathan Riley, spokesman for the attorney general's office. But the insurer, he said, "said it is not liable anymore because the contractors continued to use methods that knowingly damaged property." The state, he said, argues that Zurich-American is making the claim too late and the company should still be held responsible.
Manville Mails Data
On Reorganization Plan
DENVER - Reorganization data, including a telephone book-size ballot and plan to emerge from bankruptcy protection by next June, have gone out in the mail to more than 100,000 creditors of Manville Corp.
Manville officials Monday began mailing out the ballots along with copies of its plan to reorganize under Chapter 11 of the federal bankruptcy code and a detailed "disclosure statement" about the plan. The inch-thick documents have 554 pages.
The packs are going to shareholders, creditors, asbestos-disease victims, property-damage claimants and unsecured claimants.
Manville, faced with a landslide of lawsuits from people who claimed to have develop diseases from the company's asbestos products, filed for Chapter 11 bankruptcy protection Aug. 26, 1982.
All creditors will have until Nov. 14 to vote. Results will be tabulated later in November with a confirmation hearing set for Dec. 15.
Manville will begin a $1.9 million advertising campaign on Saturday detailing the voting process.