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Travelers Must Pay Johns Manville Asbestos Victims

Travelers Cos. must immediately pay about $500 million to asbestos victims under a settlement made six years ago in the bankruptcy of Johns Manville Corp., a judge ruled.

U.S. Bankruptcy Judge Burton Lifland in Manhattan said in an order signed today that his ruling should resolve a dispute over whether a U.S. Supreme Court ruling reversed an earlier order over the settlements, among Travelers Indemnity Co. and Travelers Casualty & Surety Co., for their work as insurers to Johns Manville.