STORY FROM: Asbestos
N.C. Federal Court Stays RICO Actions Against Asbestos Plaintiff Firms in Light of Garlock Bankruptcy Deal
March 31, 2016
CHARLOTTE, N.C. –– A North Carolina federal court overseeing RICO cases initiated against a number of asbestos plaintiff firms has issued an order staying in proceedings, citing the pending approval and consummation of a settlement announced by Garlock Sealing Technologies LLC’s parent company this month.
The U.S. District Court for the Western District of North Carolina issued the one page order on March 28, saying that “all proceedings in this case are stayed pending consideration of Garlock’s consensual plan of reorganization by the Bankruptcy Court.”
On March 17, EnPro Industries, Inc., the parent company of Garlock and Coltec Industries Inc., ...