Federal-Mogul Global Inc.: Third Circuit Holds Bankruptcy Code Preempts Anti-Assignment Provisions, Allowing Transfer of Policy Rights to Asbestos Trust

By Jennifer Black Strutt, Associate, McCarter & English, LLP Federal-Mogul Global, Inc., one of the world's largest manufacturers of automobile parts, and its affiliates filed for Chapter 11 bankruptcy, seeking to resolve asbestos-related liability through the creation of a personal injury...