Quigley $982,000 asbestos claims settlement approved

By Caroline Salls

Pittsburgh, April 28 - Quigley Co., Inc. obtained court approval of an asbestos-related bodily injury claims settlement agreement with parent Pfizer Inc. and Stonewall Insurance Co. that pays Quigley and Pfizer $928,082, according to a Friday filing with the U.S. Bankruptcy Court for the Southern District of New York.

The settlement stems from a dispute on insurance coverage limits.

Quigley's $815,761.94 portion of the payment will be paid to the asbestos personal injury trust under its plan of reorganization for distribution to asbestos personal injury claimants.

Quigley, a unit of Pfizer Inc., filed for bankruptcy on Sept. 3, 2004. Its Chapter 11 case number is 04-15739.

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