AIU INSURANCE COMPANY v. PHILIPS ELECTRONICS NORTH AMERICA CORPORATION

C.A. No. 9852-VCN.

AIU INSURANCE COMPANY, AMERICAN HOME ASSURANCE COMPANY, BIRMINGHAM FIRE INSURANCE COMPANY OF PENNSYLVANIA, GRANITE STATE INSURANCE COMPANY, LEXINGTON INSURANCE COMPANY, and NATIONAL UNION FIRE INSURANCE COMPANY OF PITTSBURGH, PA, Plaintiffs, v. PHILIPS ELECTRONICS NORTH AMERICA CORPORATION, T H AGRICULTURE & NUTRITION L.L.C., and THE T H AGRICULTURE & NUTRITION L.L.C. ASBESTOS PERSONAL INJURY TRUST, Defendants.

Court of Chancery of Delaware.

Date Decided: June 4, 2015.


Attorney(s) appearing for the Case

Marc S. Casarino Esquire , of White and Williams LLP, Wilmington, Delaware, and John S. Favate Esquire , and Henry T. M. LeFevre-Snee , Esquire of Hardin Kundla McKeon & Poletto P.A., Springfield, New Jersey, Attorneys for Plaintiffs.

David J. Baldwin, Esquire , Jennifer C. Wasson, Esquire , and Andrew H. Sauder Esquire , of Potter Anderson & Corroon LLP, Wilmington, Delaware, and Kenneth H. Frenchman, Esquire , and Alana S. Klein Esquire , of Kasowitz, Benson, Torres & Friedman LLP, New York, New York, Attorneys for Defendants Philips Electronics North America Corporation and T H Agriculture & Nutrition L.L.C.

Daniel K. Hogan Esquire , and Garvan F. McDaniel Esquire , of The Hogan Firm, Wilmington, Delaware, and Sander L. Esserman, Esquire , Steven A. Felsenthal, Esquire , and David A. Klingler Esquire , of Stutzman, Bromberg, Esserman & Plifka, A Professional Corporation, Dallas, Texas, Attorneys for Defendant The T H Agriculture & Nutrition, L.L.C. Asbestos Personal Injury Trust.


MEMORANDUM OPINION

In 2009, Plaintiff insurance companies entered into a settlement agreement with Defendants T H Agriculture & Nutrition, L.L.C. ("THAN") and Philips Electronics North America Corporation ("PENAC") to resolve then-pending insurance coverage litigation. Because Plaintiffs' settlement payments...

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