Bloomberg Law
May 25, 2023, 4:48 PM

Bankrupt Hess Unit Tees Up $106 Million Asbestos Victim Plan

James Nani
James Nani

Global oil and gas company Hess Corp. would pay at least $106 million under a plan to resolve hundreds of asbestos claims tied to its bankrupt subsidiary, according to court documents.

Honx Inc.'s Chapter 11 reorganization plan filed on Thursday aims to resolve roughly 900 current claims from workers and their families who say they were exposed to asbestos at its former oil refinery. The plan also aims to resolve future asbestos-related claims.

Hess Corp. put Honx into bankruptcy in April 2022 to avoid litigating hundreds of asbestos lawsuits tied to an oil refinery it no longer owns. The trust ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.