Bankruptcy Judge: Remington Insurance Stays for Sandy Hook Lawsuit
A federal judge says Remington Arms’ insurance will stay intact during its $159 million Chapter 11 bankruptcy sale, according to Hearst Connecticut Media.
The insurance would cover compensation if families of several victims of the 2012 Newtown shooting were to win a pending lawsuit against Remington.
A representative for the families is still concerned the insurance policies would be valid after the company sale.
The families filed a lawsuit against the Alabama-based gunmaker in 2014. Remington made the Bushmaster AR-15 rifle, which was used in the shooting at Sandy Hook Elementary School that killed 20 children and six educators. The families say the company wrongfully marketed military-style assault weapons to civilians. Discovery proceedings that would shed light on those marketing pracitces were put on hold when Remington filed for bankrupcy relief.
Remington says it will keep insurance policies related to the lawsuit intact if the judge approves the bankruptcy sale.