Document EK7y9rVqXbR7Br6gd5eJbrON

FILE NAME Cape Asbestos CAPE DATE 1979 Mar 23 DOC CAPE170 DOCUMENT DESCRIPTION Cape Industries Ltd. letter RE insurance coverage & liquidating assets Legal - Tibbs Case Exhibit 68 Cape Industries Limited 4h { 114 Park Street London W1Y 4AB Telephone 01-499 6022 Talex 24811 Telegrams incorrupt London Reg no 40203C England Registered abo as v aboe ve Mr. Max Meyer Lord Bissell & Brook 115 South La Salle Street Chicago Illinois 60603 U.S.A. 23rd March 1979 Dear Max Re U.S. Litigation There has been some considerable discussion here with Peats as to whether the net assets in the liquidating trust should be provided for in the Cape Accounts at this stage One obviously tends to be pessimistic as to the outlook having regard to the number of claims but on the other hand it can certainly be argued that if claims are settled on a proportionate tonnage basis NAAC's share is likely to be minimal - there is still some insurance cover left it is therefore too early to take a decision to write off I wonder if you could therefore bring with you in June a statement from Steve setting out as far as is possible on current information the balance of insurance cover which would still seem to be available and the possible percentage shares of NAAC and any approximate settlement figures discussed in individual claims Kind regards Yours sincerely 4 .o L A. J. Group Penna Solicitor AJP CAPE00070