Honeywell International Inc. sued a trust for victims of asbestos poisoning, claiming the fund’s managers are wrongly paying people who say they were harmed by the toxic industrial substance, as reported in Bloomberg news.
The lawsuit is reportedly the result of years of acrimony between Honeywell and a trust set up to resolve the bankruptcy of Honeywell’s former affiliate, North American Refractories Co. (NARCO). Trust administrators filed their own lawsuit against Honeywell, claiming the company was trying to get out of its obligation to pay up to $150 million annually to cover claims from people harmed by NARCO’s products.
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