Garlock Is Settled, Sort Of

A settlement, sort of,  for Garlock and Coltec was announced late yesterday. The deal has multiple moving parts, including a new chapter 11 for Coltec, and a would be deal about claims by Canadian provinces represented by Motley Rice. The deal also calls for an end to Garlock’s “fraud” lawsuits against a few plaintiff firms. A Reuters story has some of the specifics.