In October 2018, a jury in a federal district court in North Carolina granted a judgment in excess of $30 million against Covil Corporation, a company that formerly manufactured products containing asbestos but has been defunct since 1993. By the time the North Carolina litigation commenced, Covil had no officers, directors, agents, or employees. As a result, the litigation was directed by Covil’s insurers. After the jury verdict was handed down, a receiver for Covil was appointed in South Carolina.
In an effort to collect …Continue Reading