MATTER OF CELOTEX CORP.

Bankruptcy Nos. 90-10016-8B1, 90-10017-8B1, Adversary No. 91-40.

222 B.R. 644 (1998)

In the Matter of the CELOTEX CORPORATION, Debtor(s). THE CELOTEX CORPORATION, et al., Plaintiff, v. AIU INSURANCE COMPANY, et al., Defendants.

United States Bankruptcy Court, M.D. Florida, Tampa Division.

May 18, 1998.


Attorney(s) appearing for the Case

Jeffrey W. Warren, Bush, Ross, Gardner, Warren & Rudy, P.A., Tampa, FL, for Debtors.

Charles P. Schropp, William R. Daniel, Schropp, Buell & Elligett, P.A., Tampa, FL, Deborah A. Swindells, Karen L. Bush, Nicholas J. Zoogman, Anderson, Kill, Olick & Oshinsky, Washington, DC, Stephen A. Madva, Montgomery, McCracken, Walker & Rhoads, Philadelphia, PA, Bruce Bishop, Willcox & Savage, Norfolk, VA, for Plaintiffs.

George N. Wood, Tampa, FL, Vice President and General Counsel for Celotex Corp.

Sara Kistler, Asst. U.S. Trustee, Tampa, FL.

John W. Kozyak, Kozyak, Tropin, Throckmorton & Humphreys, P.A., Miami, FL, for Asbestos Property Damage Claimants Committee.

Charles M. Tatelbaum, Johnson, Blakely, Pope, Boker, Ruppel & Burns, P.A., Clearwater, FL, for Unsecured Trade Creditors Committee.

William Knight Zewadski, Trenam, Kemker, Scharf, Barkin, Frye, O'Neill & Mullis, P.A., Tampa, FL, for Unofficial Asbestos Health Claim Co-Defendants Committee.

H.C. Goplerud, Honigman, Miller, Schwartz and Cohn, Tampa, FL, for Asbestos Health Claimants Committee.

Sheldon S. Toll, Honigman, Miller, Schwartz & Cohn, Detroit, MI, for Asbestos Health Claimants Committee.

Daniel C. Sauls, John Flyger, Steptoe & Johnson Company, Washington, DC, for Highlands Ins. Co. and Old Republic Ins. Co.

Robert J. Bates, Jr., Maryann C. Hayes, Stanley V. Figura, Bates, Meckler, Bugler & Tilson, Chicago, IL, for Eric Reinsurance Co.

Deborah M. Paris, Paris & Associates, Tampa, FL, for Certain Underwriters at Lloyd's of London (Plaisted).

John A. Yanchunis, Blasingame, Forizs & Smiljanich, St. Petersburg, FL, for Transportation Ins. Co., Continental Casualty Co., Columbia Casualty Co., Eric Reinsurance Co. and Zurich American Ins. Co.

David C. McLauchlan, Andrew Kochanowksi, Lord, Bissell & Brook, Chicago, IL, for Certain Underwriters at Lloyds of London.

Thomas B. Keegan, Robins, Kaplan, Miller & Ciresi, Chicago, IL, for Employers Mutual Casualty Co.

William Clearly, Mendes & Mount, New York City, for Barrett and London Market Companies.

Gregory J. Willis, Bart Billbrough, Walton, Lantaff, Schroeder & Carson, Miami, FL, for Florida Ins. Guaranty Assn., Inc.

W. Gray Dunlap, Jr., Tampa, FL, for Hartford Accident and Indemnity Co., First State Ins. Co. and Twin City Fire Ins. Co.

Rolph Gilbertson, Zeele & Larson, Minneapolis, MN, for Employers Ins. of Wausau.

Margaret Jones, Grippo & Eldon, Chicago, IL, for American Ins. Co. and National Surety Corp.

Thomas B. Mimms, Jr., MacFarlane Ferguson, Tampa, FL, for American Home Assurance Co., AIU Ins. Co., Highlands Ins. Co., Old Republic Ins. Co., Granite State Ins. Co., National Union Fire Ins. Co. of Pittsburgh, PA., Employers Mutual Casualty Co., American Ins. Co., National Surety Co. and St. Paul Surplus Lines Ins. Co.

Christine A. Nykiel, Jackson & Cambell, Washington, DC, for American Home Assurance Co., AIU Ins. Co., Granite State Ins. Co., Lexington Ins. Co. and National Union Fire Ins. Co. of Pittsburgh, PA.

Elizabeth G. Repaal, Harris, Barrett, Mann & Dew, Tampa, FL, for Northbrook, as successor in interest to Allstate Ins. Co.

Mary A. Lau, Lau, Lane, Pieper, Conley & McCreadie P.A., Tampa, FL, for Employers Ins. Co. of Wausau.

Elizabeth B. Sandza, Cynthia T. Andreason, LeBoeuf, Lamb, Greene & Macrea, Washington, DC, for Hudson Ins. Co. and Gibraltar Casualty Co.

William S. Daskam, IV, Butler, Burnette & Pappas, Tampa, FL, for Continental Ins. Co.

Rick Dalan, Clearwater, FL, for Royal Indemnity Co.

Jeffrey A. Aman, Aman & Lins, Tampa, FL, for Insurance Company of North America and California Union Ins. Co.


FINDINGS OF FACT AND CONCLUSIONS OF LAW AS TO LATE NOTICE TO AMERICAN INSURANCE COMPANY (PHASE IV)

THOMAS E. BAYNES, Jr., Bankruptcy Judge.

THIS CAUSE came on to be heard upon a final evidentiary hearing concerning whether the Debtor gave reasonable notice of asbestos property damage claims to American Insurance Company (American). The Court previously ruled on the question of Debtor's reasonable notice to the vast majority of its excess insurance...

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