On April 4, 2016, Exxon Mobil Corporation brought suit against Lockheed Martin Corporation, seeking a declaration that the 1963 asset purchase agreement between Martin-Marietta, Lockheed’s predecessor, and Mobil Finishes does not give rise to an obligation to pay or reimburse costs that Lockheed Martin allegedly incurred or may incur with regards to alleging asbestos bodily injury claims against Lockheed or its predecessor.
This suit arises out of a letter in February sent from claims administrator Resolute Management Inc. seeking $16 million to cover costs of …
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