Carrier to Make $540 Million Payment in Kidde-Fenwal Bankruptcy

Carrier Global Corp. has agreed to pay $540 million in cash and contribute insurance rights to resolve claims it faces in the bankruptcy of its subsidiary Kidde-Fenwal Inc., a fire protection equipment manufacturer.

Carrier’s agreement, announced in an Oct. 18 filing with the US Bankruptcy Court for the District of Delaware, will help extricate the multinational from claims related to the production of firefighting foam with per- and polyfluoroalkyl substances, or PFAS. The company separately said in an Oct. 18 regulatory filing that it had agreed to pay $615 million in cash over five years to settle claims arising in ...