Eagle-Picher Industries Inc. is seeking class-action status for 65,000 asbestos-related claims to avoid arguing the same issues repeatedly in individual cases. The company said Monday it has filed a request for class-action status with U.S. District Judge Jack B. Weinstein in New York, who last week was given authority to reorganize the Manville trust. The $3 billion trust, which was formed as part of the 1988 bankruptcy reorganization of Manville Corp., has run out of money to pay about 130,000 new claims. Manville was driven into bankruptcy court by thousands of lawsuits by victims of asbestos-related diseases. Eagle-Picher, which reported settling 7,800 asbestos claims in the first six months of the year, said it believes the Manville trust will have to participate in the settlements. A federal judge in Cleveland recently authorized creating a national class-action to settle more than 100,000 asbestos lawsuits crowding U.S. court dockets. Negotitations have begun on structuring the settlement mechanism. Eagle-Picher has been inundated with lawsuits by people who say their health suffered from exposure to an asbestos-based pipe sealer Eagle-Picher made for ships during World War II. Eagle-Picher said its own settlements for the first half of the year averaged $5,900. About 11,300 new plaint too ridiculous to comment on. ``Since when is it against the law for a senator to talk to one reporter?'' she asked, adding that ``no prearrangements'' were attached to Metzenbaum's comments. Meanwhile, the Times reported in today's editions that Thompson invested $100,000 with a federal regulator, Paul G. Heafy, who also was involved in Thompson's negotiations to buy an insolvent bank in Oklahoma. The newspaper reported that the investment, which was to buy distressed loans from federal regulators, did not violate conflict of interest laws, but Senate investigators wanted to look into the financing of the deal. Heafy is chief liquidator for the Federal Deposit Insurance Corp. in Oklahoma City. The Times said he and Thompson refused the Times' requests for interviews.
