Asbestos Claims. Since approximately 1990, FMC and various subsidiaries have been named as defendants in a large number of lawsuits that claim personal injury either from exposure to asbestos allegedly contained in electrical wire products produced or marketed many years ago or from asbestos contained in buildings and facilities located at properties owned or operated by FMC affiliates, or from alleged asbestos in talc products. Many of these suits involve a large number of codefendants. Based on litigation results to date and facts currently known, FCX believes there is a reasonable possibility that losses may have been incurred related to these matters; however, FCX also believes that the amounts of any such losses, individually or in the aggregate, are not material to its consolidated financial statements. There can be no assurance, however, that future developments will not alter this conclusion. Yonkers Site. From 1932 until 1984, FMC owned and operated a cable manufacturing facility on the Xxxxxx River in Yonkers, New York. FMC sold that operation in 1984, and it was subsequently sold to BICC Cables Corporation (BICC). BICC closed the facility in 1996. In 2005, Blackacre Partners OPS, LLC (Blackacre) began environmental cleanup work at the site using funding provided by FMC and BICC. One Point Street, Inc. (OPS), a real estate developer, has current title to the site. On September 9, 2011, OPS filed a complaint in the United States District Court for the Southern District of New York, which it amended on March 1, 2012. The amended complaint alleged that FMC, BICC and Blackacre failed to timely and diligently complete remediation of the site in breach of alleged obligations under CERCLA and New York Environmental Conservation Law, and under the contractual agreements among the parties. In fourth-quarter 2012, this matter was settled, and OPS will be completing the limited remaining cleanup work at the site using funds provided by FMC and BICC.
Asbestos Claims. The term "Asbestos Claims" means any and all past, present and future claims, demands, actions, suits, proceedings, notices of partial or total responsibility, whether presently known or unknown, that seek compensatory, punitive or statutory damages, declaratory judgment, injunctive relief, medical monitoring, or any other form of relief whatsoever, on account of alleged bodily injury, personal injury, fear of future injury, medical monitoring, mental injury or anguish, emotional distress, shock, sickness, disease, or any other illness or condition, death, property damage, loss of use of property, or diminution in the value of property, arising from alleged, potential or actual exposure of any type or nature whatsoever to asbestos, an asbestos-containing product, and/or any other substance, product, matter or material in any form or state that contains or is alleged to contain asbestos, either alone or in combination with any other substance. The term "Asbestos Claims" also includes, without limitation, claims or suits alleging in whole or in part exposure to asbestos and/or asbestos containing products in addition to any other substance, chemical, pollutant, waste, or material of any nature as well as claims that involve, in whole or in part, alleged exposure to asbestos or asbestos containing products relating to or arising out of or from the installation, removal, manufacture, distribution, sale, re-sale, existence or presence (whether on premises owned or controlled by the Debtors or otherwise) of asbestos or an asbestos-containing product, either alone or in combination with any other substance. The term "Asbestos Claims" also includes the definitions of the following terms, as set forth in Section 1.2 of the Plan: ABI Asbestos Claim, Asbestos Personal Injury Claim, Asbestos Property Damage Claim, Asbestos Property Damage Contribution Claim, Indirect Asbestos Claim, and Unknown Asbestos Claim.
Asbestos Claims. The Agreement of Settlement dated ---------------- March 8, 1993, between Employers Insurance of Wausau and the Company with respect to insurance coverage for the Company's exposure for future asbestos expenses and liabilities is in full force and effect, and the Company believes it has defenses to any payment Employers Insurance of Wausau may assert it is due under such agreement.
Asbestos Claims. 32 SECTION 2.25. Revolving Credit and Security Agreement.. 33
Asbestos Claims. Section 12.1
Asbestos Claims. No claims have been made against any Member, or to USF's Knowledge, for which any Member could have financial responsibility, for injury, disability or death of any present or former employee of any Member related to or allegedly caused by asbestos.
Asbestos Claims. The following table reflects approximate information about the claims for Asbestos Liability against the subsidiaries and Ampco-Pitt Corp. for the nine months ended September 30, 2016 and 2015: Nine Months Ended September 30, (dollars in thousands) 2016 2015 Total claims pending at the beginning of the period 6,212 8,457 New claims served 1,105 1,109 Claims dismissed (649 ) (3,213 ) Claims settled (203 ) (256 ) Total claims pending at the end of the period 6,465 6,097 Gross settlement and defense costs (in 000’s) $ 13,762 $ 14,011 Average gross settlement and defense costs per claim resolved (in 000’s) $ 16.15 $ 4.04 A substantial majority of the settlement and defense costs reflected in the above table was reported and paid by insurers. Because claims are often filed and can be settled or dismissed in large groups, the amount and timing of settlements, as well as the number of open claims, can fluctuate significantly from period to period. SCHEDULE 5.8(b)(ii)
Asbestos Claims. (a) To the Knowledge of the Seller, from January 1, 2018 through August 31, 2022, all Asbestos Claims that have been received by the Company Entities through due service of process on the applicable Company Entity are provided to the Claims Database for inclusion therein. Since August 31, 2022, there are no Asbestos Claims served on the Company Entities and pending or, to the Knowledge of the Seller, threatened in writing against any Company Entity, in each case, that have not been included in the Claims Database and processed in accordance with the past practice of the Company Entities. To the Knowledge of the Seller, there are no demands for arbitration or mediation with respect to Asbestos Claims that are not reflected in the Claims Database.
Asbestos Claims. 28 ARTICLE III Representations and Warranties of Parent
Asbestos Claims. The following table reflects approximate information about the claims for Asbestos Liability against the subsidiaries and Ampco-Pitt Corp. for the three months ended March 31, 2020 and 2019: Three Months Ended March 31 (dollars in thousands) 2020 2019 Total claims pending at the beginning of the period 6,102 6,772 New claims served 273 333 Claims dismissed (86 ) (90 ) Claims settled (108 ) (56 ) Total claims pending at the end of the period (1) 6,181 6,959 Gross settlement and defense costs (in 000’s) (2) $ 6,206 $ 2,789 Average gross settlement and defense costs per claim resolved (in 000’s) $ 31.99 $ 19.10
