Chatz
Chatz v. Continental Casualty Co. (In re CFB Liquidating Corp.)
Opinion
Lead Opinion
Efremsky, J.
MEMORANDUM DECISION ON CONTINENTAL CASUALTY COMPANY’S MOTION FOR PARTIAL SUMMARY JUDGMENT
I. Introduction
On March 9, 2016, Barry Chatz, as trustee for the CFB/WFB Liquidating Trust *502 (the “Trustee” and the “Trust”), filed his First Amended Complaint against Continental Casualty Company (“Continental”). The First Amended Complaint seeks damages for breach of contract and declaratory relief regarding the interpretation of the Joint Chapter 11 Plan of debtors CFB Liquidating Corporation and WFB Liquidating Corporation (the “Plan” and “Debtors”). Continental filed its Answer and a Counterclaim in which Continental also seeks declaratory relief regarding the interpretation of the Plan.
On May 31, 2016, Continental filed its motion for partial summary judgment on its Counterclaim (the “Summary Judgment Motion”). The Summary Judgment Motion has been fully briefed. For the reasons explained here, the Summary Judgment Motion is denied because Continental’s interpretation of the relevant sections of the Plan is incorrect.
II. Background
a. Background Regarding the Chapter 11 Case
Debtors manufactured and distributed refractory products some of which contained asbestos. As of the…