I just read the 2nd Circuit’s opinion and it appears that if Travelers would of been successful that the settlement would have opened an alternative pathway through bankruptcy courts for resolving many varied litigation matters in the present and future. It sounds like the settlement would of been a good resolution for Travelers given the uncertainty of litigation here and around the world.
Husband was awarded 60,ooo dollars. But because of the bankrupcy he only rec’d 6,ooo. He has passed away now . It is not easy to get by on a widows pension . But I am better off than some due to my faith in God. I am only hoping to recieve what he was really awarded. Yhat only seems fair.Do the lawyers and judges know what the word fair means?.
If not for lawyers, should we leave our only form of justice to Manufacturer’s or maybe their insurance companies? Your former employer, and ALL the manufacturer’s are all guilty of misleading, misinforming, and out right lying! Shame on you and yours…God see’s and remembers everything. Perhaps, some of you killers should spoon feed your spouses, & care for them after asbestos cancer has eaten eaten thru their spinal cord….bastards!
It never fails to amaze me, how big companies can declare bankruptcy and avoid paying peiople, me incuded, the money they owe them;for causing harm or death to their loved ones. Then they come out of bankruptcy, make millons of dollars, pay their CEO’s big saleries. I don’t know how they can sleep at night. I am a 70 year old widow, who lost my husband to lung cancer due to asbestos exposure. I did receive, some money, but only a portion of what was owed me because of bankruptcy. Now, I have no money to buy heating oil and left with worries and debt.
To Johns-Manville Corporation and its affiliated companies; The Travelers Indemnity Company and Travelers Casualty and Surety Company and its CEO Jay Fishman and to ANYONE who may be looking to buy insurance or possibly dump your current carrier.
Dear Mr. Fishman,Travelers and Manville companies:
Enough is enough. Nearly three decades ago, the Johns-Manville Corporation and its affiliated companies filed a Chapter 11 case before the US Bankruptcy Court for the Southern District of New York. The same parties, present thirty years ago, were again in the same court in December in this long-standing saga.
Following years of dozens of objections, appeals, including an argument before the US Supreme Court, where I might add, YOU LOST, the justices noted that, “[a]lmost a quarter-century after the 1986 Orders were entered, the same judge who had issued the 1986 Orders” is still presiding today. But most importantly, the relief sought by the parties is still the same – compensation for the thousands of asbestos victims who continue to await their agreed-upon settlement payments.
The US Supreme Court reinstated the approximate $500million settlement in an asbestos lawsuit against The Travelers Casualty Companies. the case centred on claims flowing from Travelers’ role as the primary insurer of Johns-Manville Corporation; a nearly three-decades-long insurance relationship with Manville where Travelers acquired knowledge about the dangers of asbestos from claims in the 1950s, recognized the potential for future escalation of asbestos litigation and began to influence Manville’s purported failure to disclose knowledge about asbestos hazards. Some people might call that, conspiracy.
At that time, Travelers represented to the Court that “[t]hese settlements will collectively provide nearly a half billion dollars to asbestos claimants at a time when new sources of asbestos compensation are few and far between.”
In a May 24, 2004, press release and statement to Travelers’ investors, Jay S. Fishman, Chief Executive Officer said, “I am pleased with this settlement and the substantial reduction we have achieved in our exposure to asbestos-related claims over the past year…this settlement is a product of our efforts to seek favorable resolution of asbestos-related litigation.
Product of our efforts? It is a good thing you haven’t chosen to box up that product and try to sell it. Travelers would be broke. And favorable resolution? For whom? What happened Mr. Fishman? Was this simply for the benefit of Travelers’ and its investors? Certainly, no one else has benefitted.
According to It’s Better Under the Umbrella, Travelers’ 2010 Annual Report, Travelers’ paid approximately $670 million in common share dividends and returned approximately $5 billion to shareholders… providing an effective cash yield of approximately 22 percent.
When can any of the asbestos-claims survivors get under the umbrella? I trust you pay your premium holders insurance claims in a more timely manner? Maybe Travelers isn’t much better doing that? I don’t know. The beginning of September, another dividend payment for investors. How nice. In the yearly report you mention the millions in aid to projects worldwide –is this what helps you sleep at night. When can we in this country, people you owe, expect to see any financial generosity?
Another concern of Travelers in the the report states that your business could be harmed because of potential exposure to asbestos and environmental claims and related litigation. Factors underlying these claim filings include intensive advertising by lawyers seeking asbestos claimants.
Perhaps had Travelers’settled these cases years ago, when they first agreed, instead of throwing up roadblocks and appeals, quite possibly you wouldn’t be facing with these new claims and related litigation from attorneys out there shaking the bushes for new claimants.
Mr. Fishman, the Court concluded even though Travelers received everything that it bargained for, Travelers is threatening to upend all of the Settlements, even after they have been affirmed in their entirety by the United States Supreme Court.
US Bankruptcy Court Judge Burton Lifland wrote in the Final Order, “Travelers should likewise be bound by the plain language of the Settlements, and should be compelled to comply with its payment obligations.This Court hereby orders Travelers to immediately satisfy its payment obligations pursuant to the Settlement Agreements, which have been due and owing since June 18, 2009.
How many more years is Travelers going to drag this out? My God, a $500 million settlement is what Travelers is crying about? Traveler’s pulls in more than that in just one Quarter. You’ve probably lost that much Mr. Fishman, in a cushion of a chair. Now, with interest compounding (according to New York law) it is going to cost Travelers more by the day. A lot more. The clock has been ticking since June 18, 2009.
Your annual report states concerns of competition? I will do everything I can to make this a bigger concern for Travelers. Recently, I made a promise to myself; but unlike Travelers, this is a promise I intend to keep. I promise that any opportunity that I get to discuss insurance and/or insurance companies, I will. If it isn’t the topic at the time, I promise, it will be. I promise to join several blogs regarding this saga, and promise to start new ones. I promise to bring up this subject, whenever or wherever I am. I promise to get out and meet more people. I promise to take public transportation as a means to meet more people. And living in the country’s fifth largest city, well that’s just a plus. And a lot of people.
Mr. Fishman, I am pretty sure you have never heard of me, or know who I am. But you will, I promise. Please do not take this as a threat- it is not a threat -it is my promise.
Rich Kidulich, Phoenix, AZ
We have updated our privacy policy to be more clear and meet the new requirements of the GDPR. By continuing to use our site, you accept our revised Privacy Policy.
I just read the 2nd Circuit’s opinion and it appears that if Travelers would of been successful that the settlement would have opened an alternative pathway through bankruptcy courts for resolving many varied litigation matters in the present and future. It sounds like the settlement would of been a good resolution for Travelers given the uncertainty of litigation here and around the world.
Sounds like a windfall … for lawyers.
Husband was awarded 60,ooo dollars. But because of the bankrupcy he only rec’d 6,ooo. He has passed away now . It is not easy to get by on a widows pension . But I am better off than some due to my faith in God. I am only hoping to recieve what he was really awarded. Yhat only seems fair.Do the lawyers and judges know what the word fair means?.
If not for lawyers, should we leave our only form of justice to Manufacturer’s or maybe their insurance companies? Your former employer, and ALL the manufacturer’s are all guilty of misleading, misinforming, and out right lying! Shame on you and yours…God see’s and remembers everything. Perhaps, some of you killers should spoon feed your spouses, & care for them after asbestos cancer has eaten eaten thru their spinal cord….bastards!
It never fails to amaze me, how big companies can declare bankruptcy and avoid paying peiople, me incuded, the money they owe them;for causing harm or death to their loved ones. Then they come out of bankruptcy, make millons of dollars, pay their CEO’s big saleries. I don’t know how they can sleep at night. I am a 70 year old widow, who lost my husband to lung cancer due to asbestos exposure. I did receive, some money, but only a portion of what was owed me because of bankruptcy. Now, I have no money to buy heating oil and left with worries and debt.
To Johns-Manville Corporation and its affiliated companies; The Travelers Indemnity Company and Travelers Casualty and Surety Company and its CEO Jay Fishman and to ANYONE who may be looking to buy insurance or possibly dump your current carrier.
Dear Mr. Fishman,Travelers and Manville companies:
Enough is enough. Nearly three decades ago, the Johns-Manville Corporation and its affiliated companies filed a Chapter 11 case before the US Bankruptcy Court for the Southern District of New York. The same parties, present thirty years ago, were again in the same court in December in this long-standing saga.
Following years of dozens of objections, appeals, including an argument before the US Supreme Court, where I might add, YOU LOST, the justices noted that, “[a]lmost a quarter-century after the 1986 Orders were entered, the same judge who had issued the 1986 Orders” is still presiding today. But most importantly, the relief sought by the parties is still the same – compensation for the thousands of asbestos victims who continue to await their agreed-upon settlement payments.
The US Supreme Court reinstated the approximate $500million settlement in an asbestos lawsuit against The Travelers Casualty Companies. the case centred on claims flowing from Travelers’ role as the primary insurer of Johns-Manville Corporation; a nearly three-decades-long insurance relationship with Manville where Travelers acquired knowledge about the dangers of asbestos from claims in the 1950s, recognized the potential for future escalation of asbestos litigation and began to influence Manville’s purported failure to disclose knowledge about asbestos hazards. Some people might call that, conspiracy.
At that time, Travelers represented to the Court that “[t]hese settlements will collectively provide nearly a half billion dollars to asbestos claimants at a time when new sources of asbestos compensation are few and far between.”
In a May 24, 2004, press release and statement to Travelers’ investors, Jay S. Fishman, Chief Executive Officer said, “I am pleased with this settlement and the substantial reduction we have achieved in our exposure to asbestos-related claims over the past year…this settlement is a product of our efforts to seek favorable resolution of asbestos-related litigation.
Product of our efforts? It is a good thing you haven’t chosen to box up that product and try to sell it. Travelers would be broke. And favorable resolution? For whom? What happened Mr. Fishman? Was this simply for the benefit of Travelers’ and its investors? Certainly, no one else has benefitted.
According to It’s Better Under the Umbrella, Travelers’ 2010 Annual Report, Travelers’ paid approximately $670 million in common share dividends and returned approximately $5 billion to shareholders… providing an effective cash yield of approximately 22 percent.
When can any of the asbestos-claims survivors get under the umbrella? I trust you pay your premium holders insurance claims in a more timely manner? Maybe Travelers isn’t much better doing that? I don’t know. The beginning of September, another dividend payment for investors. How nice. In the yearly report you mention the millions in aid to projects worldwide –is this what helps you sleep at night. When can we in this country, people you owe, expect to see any financial generosity?
Another concern of Travelers in the the report states that your business could be harmed because of potential exposure to asbestos and environmental claims and related litigation. Factors underlying these claim filings include intensive advertising by lawyers seeking asbestos claimants.
Perhaps had Travelers’settled these cases years ago, when they first agreed, instead of throwing up roadblocks and appeals, quite possibly you wouldn’t be facing with these new claims and related litigation from attorneys out there shaking the bushes for new claimants.
Mr. Fishman, the Court concluded even though Travelers received everything that it bargained for, Travelers is threatening to upend all of the Settlements, even after they have been affirmed in their entirety by the United States Supreme Court.
US Bankruptcy Court Judge Burton Lifland wrote in the Final Order, “Travelers should likewise be bound by the plain language of the Settlements, and should be compelled to comply with its payment obligations.This Court hereby orders Travelers to immediately satisfy its payment obligations pursuant to the Settlement Agreements, which have been due and owing since June 18, 2009.
How many more years is Travelers going to drag this out? My God, a $500 million settlement is what Travelers is crying about? Traveler’s pulls in more than that in just one Quarter. You’ve probably lost that much Mr. Fishman, in a cushion of a chair. Now, with interest compounding (according to New York law) it is going to cost Travelers more by the day. A lot more. The clock has been ticking since June 18, 2009.
Your annual report states concerns of competition? I will do everything I can to make this a bigger concern for Travelers. Recently, I made a promise to myself; but unlike Travelers, this is a promise I intend to keep. I promise that any opportunity that I get to discuss insurance and/or insurance companies, I will. If it isn’t the topic at the time, I promise, it will be. I promise to join several blogs regarding this saga, and promise to start new ones. I promise to bring up this subject, whenever or wherever I am. I promise to get out and meet more people. I promise to take public transportation as a means to meet more people. And living in the country’s fifth largest city, well that’s just a plus. And a lot of people.
Mr. Fishman, I am pretty sure you have never heard of me, or know who I am. But you will, I promise. Please do not take this as a threat- it is not a threat -it is my promise.
Rich Kidulich, Phoenix, AZ