Bankruptcy Judge OKs Honeywell’s $1.32B Buyout Deal With NARCO Asbestos Trust

Mealey's ( December 12, 2022, 8:07 AM EST) -- PITTSBURGH — A Pennsylvania federal bankruptcy judge approved a buyout settlement agreement under which Honeywell International Inc. will pay $1.32 billion to the asbestos trust of affiliate North American Refractories Co. (NARCO) to bring an end to its commitment to fund the trust, which was created in NARCO’s Chapter 11 case....