Bloomberg Law Quotes Kevin Maclay on Trane Technologies Plc Mediation

A bankrupt Trane Technologies Plc unit gained court approval to return to mediation as it works with asbestos claimants and other creditors to determine the value of their claims.

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The mediation and the estimation trial should occur concurrently to help parties reach a settlement on how much to pay claimants, said committee attorney Kevin Maclay of Caplin & Drysdale.

“The number is important, and talking through with the other parties as a part of the expedited estimation may help us get closer on the number,” he said.

Mediation would also focus on other factors including provisions to opt out of third-party liability releases, Maclay noted.

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