Article by Sherilyn Pastor, Nicholas Insua, and Adam Budesheim originally published in the NJSBA Insurance Law Section Newsletter Vol. 21, No. 2/November 2015 When, on July 6, 2015, the New Jersey Supreme Court declined to grant certification and review the Appellate Division’s published and unpublished rulings in IMO Industries Inc. v. Transamerica Corp., it brought to a conclusion more than a decade of litigation over the responsibility for plaintiff IMO Industries Inc.’s asbestos liabilities.1 The Court declined to disturb rulings that IMO’s former parent and co-insured, Transamerica Corporation, was not obligated by its divestiture agreement with IMO or its consolidated risk management approach (purchasing insurance for itself and its then wholly owned subsidiaries, including IMO) to pay IMO’s asbestos losses or to pay for gaps in insurance for IMO’s asbestos liabilities. Download to read more#liability #OwensIllinoisIncvUnitedInsuranceCo #asbestos #CypressPointCondominiumAssociationvAdriaTowersLLC #IMOIndustriesIncvTransamericaCorp #CarterWallaceIncvAdmiralInsuranceCo