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Takata Ch. 11 Tort Committee Has Tough Road Ahead

Brian Davidoff was quoted by Law360 on July 10, 2017, in an article discussing the Takata Chapter 11 bankruptcy that includes personal injury claims as well as those claiming financial losses as a result of Takata’s defective...more

Takata Declares Bankruptcy: What are the Key Next Steps for Suppliers?

by Foley & Lardner LLP on

On June 25, 2017, Takata’s US arm, TK Holdings Inc. and certain affiliates excluding certain foreign debtors such as Takata Corporation (Japan) (the “Takata US Debtors”), filed chapter 11 cases seeking bankruptcy protection...more

The End of the Road for Pro Se Neurontin Plaintiff with No Evidence of Causation

by Reed Smith on

This past weekend, we paid a return visit to Cleveland, the home of our best law school friend, who braved the (figurative) waters of New Haven with us so many years ago. In deference to the Drug and Device Law Traveling...more

Second Circuit Raises a Caution Flag for Sales Free-and-Clear of Claims

by Reed Smith on

The power of a bankruptcy court to authorize the sale of assets “free-and-clear” of liens and any other interests is a powerful tool that is used to realize value from distressed businesses. Indeed, purchasers will...more

General Motors: Protection Granted in Section 363 Sale Orders is Only as Good as the Notice Given

by Dechert LLP on

In a recent decision by the U.S. Court of Appeals for the Second Circuit in the General Motors case, the court held certain claimants were not afforded procedural due process with respect to the § 363 sale of General Motor...more

Asbestos Alert: Asbestos Bankruptcy Trusts and Legislation

by Low, Ball & Lynch on

When asbestos litigation became extremely costly to defend, to settle and to pay judgments, companies began filing for protection under the Bankruptcy laws. In the three decades since Johns Manville and UNR Industries filed...more

Proposed California Legislation Would Mandate Asbestos Bankruptcy Trust Disclosures Statewide

by Wilson Elser on

California Assemblyman Ken Cooley (D-Rancho Cordova) has introduced and sponsored Assembly Bill No. 597, the Asbestos Tort Claim Trust Transparency Act, which if passed would require asbestos plaintiffs to disclose all...more

Los Angeles Asbestos Court Ramps up Plaintiffs’ Bankruptcy Trust Disclosure Requirements

by Wilson Elser on

Asbestos plaintiffs can seek damages in two independent compensation systems: by filing tort claims against solvent defendants and by filing claims with any of the dozens of asbestos bankruptcy trusts established under...more

Judge Protects GM Against Most, But Not All, Ignition Switch Claims

by Kelley Drye & Warren LLP on

Judge Robert Gerber ruled last week that General Motors LLC (“New GM”), the entity formed in 2009 to acquire the assets of General Motors Corporation (“Old GM”), is shielded from a substantial portion of the lawsuits based on...more

Arizona Enacts New Asbestos Trust Claim Disclosure and Evidence Statute

The Arizona legislature recently enacted A.R.S. § 12-782 to prohibit claimants from obtaining duplicative or excessive recoveries in asbestos personal injury lawsuits. Section 12-782 impacts personal injury plaintiffs that...more

Alert: Ninth Circuit Expands the Limits of Post-Confirmation Injunctions and Non-Debtor Releases Under A Chapter 11 Plan

by Cooley LLP on

For years, it has been the rule in the Ninth Circuit that a chapter 11 plan cannot discharge or otherwise affect the obligation of a non-debtor owed to a third party. This view interprets section 524(e) of the Bankruptcy...more

Statute of Limitations for Submitting a Claim Against CIGA

by Low, Ball & Lynch on

Statute of Limitations for Submitting a Claim Against CIGA - Court Of Appeal, First Appellate District (September 17, 2014) - The California Insurance Guarantee Association (“CIGA”) has a statutory duty to pay...more

Third-Party Protections In Mass Tort Chapter 11 Cases

by Mintz Levin on

A defendant facing thousands of mass tort lawsuits in federal and state courts throughout the country often will seek to address the litigation by seeking Chapter 11 relief under the Bankruptcy Code. The Chapter 11 process...more

Insurance Recovery Law - August 2014

“Contractual Liability” Exclusion Applies Only To An Insured’s Assumption of Another’s Liability - Why it matters: The Michigan Court of Appeals joined the majority of courts nationwide in holding that a...more

Pennsylvania Supreme Court Notes Limited Reach of Multiple Trigger Rule in Insolvency Case

by Cozen O'Connor on

On July 21, 2014, the Pennsylvania Supreme Court held, as a matter of first impression, that the Continuance of Coverage Provision of the Pennsylvania insurance insolvency statute, 40 P.S. § 221.21, precludes coverage for all...more

Garlock: Lifting the Veil on Asbestos Trust Claims

Over the past four decades the landscape of asbestos litigation has been changing, influenced in large part by many asbestos defendants filing for bankruptcy. In search of solvent defendants, plaintiffs’ attorneys expanded...more

Third Circuit Concludes Personal Injury Causes of Action Against a Successor to Debtor’s Business are Generalized Claims

In a novel decision, the United States Court of Appeals for the Third Circuit held, in its ruling In re Emoral, Inc., 740 F.3d 875 (3d Cir. 2014), that personal injury claims of individuals allegedly harmed by a bankrupt...more

New York Appeals Court Sustains Asbestos Plaintiffs’ Direct Suit against Liability Insurer of Dissolved Corporate Defendant

by Wilson Elser on

Can an asbestos bodily injury plaintiff directly sue the liability insurer of a dissolved corporate defendant? Yes, said New York’s Appellate Division, First Department – under certain circumstances. The court’s decision came...more

Asbestos Alert: Paulus v Crane Co.

by Low, Ball & Lynch on

Second District Court of Appeal, Division Three, Action # B246505 (Filed Feb. 21, 2014, modified Mar. 24, 2014) 2014 WL 1157284 ____Cal.App.4th____ - Sufficiency of Expert Testimony to Prove Causation; Bankruptcy Trust...more

The General Motors Scandal: Risky Issues

by Michael Volkov on

The GM scandal is unfolding and provides important reminders for everyone involved in compliance and how to respond to a corporate scandal....more

Delaware Decision Makes It Increasingly Difficult for Insurers to Evade Coverage for Dissolved Corporations

by Gilbert LLP on

Can an injured plaintiff obtain compensation from a dissolved company with unexhausted insurance policies and force the insurer to pay? The Delaware Supreme Court says yes—in certain circumstances. Originally published...more

Environmental Liability of Dissolved Corporations in Delaware is Forever

Ever since the Supreme Court’s decision in Citizen’s United, an effort has been made to humanize corporations, culminating in Mitt Romney’s infamous pronouncement that “Corporations are people my friend.” Now it turns out...more

Delaware Supreme Court Defines Unexhausted Insurance Policies as Property of Dissolved Corporations

by Katten Muchin Rosenman LLP on

The Supreme Court of the State of Delaware recently reversed a Court of Chancery decision declining to appoint a receiver for a dissolved Delaware corporation, Krafft-Murphy Company, Inc. (Krafft). The Chancery Court...more

Railroad Company Involved in Deadly Explosion Seeking Bankruptcy Protection

by Joel Glucksman on

Railroad Company Involved in Deadly Explosion Seeking Bankruptcy Protection by Joel R. Glucksman on August 20, 2013 Railroad company Montreal, Maine & Atlantic Ltd., which has recently been in the media spotlight for...more

Weekly Law Resume - May 23, 2013: Insurers May Exercise the Attorney-Client Privilege On Behalf of Dissolved Corporate Insured

by Low, Ball & Lynch on

Mary Melendrez et al., v. Superior Court of the State of California, County of Los Angeles - COURT OF APPEAL, SECOND APPELLATE DISTRICT (April 30, 2013) - Petitioners and Plaintiffs Mary Melendrez, individually and...more

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