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Mealey's Bankruptcy - Company Removes Fund's Suit To Recover Asbestos Claims To Federal Court

BOSTON - A company being sued in a number of asbestos-related bodily injury lawsuits removed a case brought by a state's insurance insolvency fund seeking to recover for the asbestos claims paid on behalf of a pair of insolvent insurer to a federal court in Massachusetts on June 9 (Massachusetts...

Mealey's Bankruptcy - Claimants, Trust Say Garlock's Bid For Information Goes Too Far

CHARLOTTE, N.C. - Discovery proposed by Chapter 11 debtor Garlock Sealing Technologies LLC seeking information from the Manville Personal Injury Settlement Trust on the more than 90,000 asbestos claimants in Garlock's bankruptcy case "is patently excessive and should not be permitted,"...

Mealey's Bankruptcy - Supreme Court: Bankruptcy Lawyers Not Entitled To Fees For Defending Fee Requests

WASHINGTON, D.C. - The U.S. Bankruptcy Code does not allow bankruptcy courts to award fees to attorneys for successfully defending their fee applications, the U.S. Supreme Court held June 15 in a 6-3 decision, affirming a Fifth Circuit U.S. Court of Appeals ruling denying a $5 million fee award to attorneys...

Supreme Court: Bankruptcy Lawyers Not Entitled To Fees For Defending Fee Requests

WASHINGTON, D.C. — (Mealey’s) The U.S. Bankruptcy Code does not allow bankruptcy courts to award fees to attorneys for successfully defending their fee applications, the U.S. Supreme Court held June 15 in a 6-3 decision, affirming a Fifth Circuit U.S. Court of Appeals ruling denying a $5...

Mealey's Bankruptcy - Justice Approves Insolvent Insurer's $19 Million Asbestos-Related Settlement

CONCORD, N.H. - A New Hampshire justice on June 15 approved a $19 million asbestos bodily injury related settlement between a reorganized company's trust and the liquidator of an insolvent insurer (In the Matter of the Liquidation of The Home Insurance Company, No. 03-E-0106, N.H. Sup., Merrimack...

Mealey's Bankruptcy - Texas Governor Signs Asbestos Trust Disclosure Bill

AUSTIN, Texas - Texas Gov. Greg Abbott on June 16 signed a bill that will force asbestos and silica personal injury claimants to file any claims they have with bankruptcy trusts before a trial could proceed on their tort system claims, according to a report by the Texas Legislature.

Mealey's Bankruptcy - No Bad Faith In Omission Of Asbestos Action From Bankruptcy, Judge Says

PHILADELPHIA - A man's omission in his bankruptcy filing of an asbestos action under an eight-year stay does not evidence bad faith, but the trustee still gets the first shot at prosecuting the since-reinstated claim, a federal judge in Pennsylvania held June 23 (Willard E. Bartel, administrator...

Mealey's Bankruptcy - Energy Future Holdings Refuses To Give Asbestos Data To Law Firms

WILMINGTON, Del. - Chapter 11 debtor Energy Future Holdings Corp. (EFH) on June 26 denied a request by nine law firms representing tens of thousands of asbestos claimants to provide information on EFH and affiliates about their asbestos use and products and to delay a hearing on setting an asbestos claims...

Mealey's Bankruptcy - 2nd Circuit Addresses Withdrawal Liability Claim Against Bankruptcy Estate

NEW YORK - A multiemployer pension plan failed to demonstrate the amount of unfunded benefits attributable to post-petition operation of a bankruptcy estate, the Second Circuit U.S. Court of Appeals ruled on July 2 in a summary order disallowing the plan's administrative expense claim for a portion...

State Net Capitol Journal – July 6, 2015; Puerto Rican Debt Threat to U.S. Cities, States

Budget & Taxes Puerto Rican Debt Threat to U.S. Cities, States In an interview with The New York Times last month, Puerto Rico Gov. Alejandro García Padilla said the U.S. commonwealth wasn’t able to pay its roughly $72 billion in debt. “The debt is not payable,”...

Mealey's Bankruptcy - GM Says Plaintiffs' Bid For Relief From Injunction Raises No New Issues

NEW YORK - Arguments made by a group of plaintiffs seeking relief from a ruling by the U.S. Bankruptcy Court for the Southern District of New York enforcing a sale order and injunction against suits against General Motors LLC (New GM) raise no issues that haven't already been considered and rejected...

Mealey's Bankruptcy - Energy Future Holdings Gets More Time To Remove Civil Actions

WILMINGTON, Del. - A Delaware federal bankruptcy judge on July 7 gave Chapter 11 debtor Energy Future Holdings Corp. (EFH) more time to remove any of the more than 400 civil lawsuits filed against the debtor, including asbestos personal injury actions, to the bankruptcy court or a federal district court...

Mealey's Bankruptcy - W.R. Grace Gets 1-Year Extension To Object To Non-Asbestos Claims

WILMINGTON, Del. - There are only 24 unresolved non-asbestos claims pending against reorganized Chapter 11 debtor W.R. Grace & Co. and affiliates, out of more than 10,000 non-asbestos proofs of claim filed in the case, and a Delaware federal bankruptcy judge on July 10 gave the debtors another year...

Mealey's Bankruptcy - Texas Judge Approves End Of Insolvent Insurer's Liquidation Proceeding

AUSTIN, Texas - A Texas judge on July 7 dissolved an insurer in liquidation and ordered the closing of the liquidation proceeding (State of Texas v. Western Indemnity Insurance Company, No. D-1-GV-03-002024, Texas, 261st Dist., Travis Co.).

Signal Intl. LLC Files for Ch. 11 to Settle H-2B Trafficking Lawsuit - Law360

Law360, July 13, 2015 - " Oil and gas service and shipbuilding company Signal International LLC and several affiliates filed for Chapter 11 protection late Sunday in Delaware with a deal in hand that aims to resolve contentious litigation, including a labor trafficking case that resulted in a $14...

Mealey's Bankruptcy - Energy Future Says Asbestos Bar Date Notice Satisfies Due Process

WILMINGTON, Del. - Chapter 11 debtor Energy Future Holdings Corp. (EFH) on July 13 said it has incorporated most suggestions made by a creditors' committee for the debtor's proposal to notify current and possible future asbestos claimants of a deadline to file proofs of claim but urges the Delaware...

Mealey's Bankruptcy - Insurance Commissioner Wants Approval Of $200M Settlement With Foreign Bank

LOS ANGELES - California's insurance commission asked a California court on July 9 to approve a $200 million settlement on behalf of an insolvent insurer with a foreign-owned bank (Insurance Commissioner of the State of California v. Executive Life Insurance Company, No. BS 006912, Calif. Super....

Mealey's Bankruptcy - New Jersey Property Owner Loses Bid For Reconsideration Of Ruling For Flintkote

WILMINGTON, Del. - A Delaware federal judge on July 14 declined to reconsider his affirmation of a bankruptcy court's grant of summary judgment to Chapter 11 debtor The Flintkote Co. on a corporate property owner's bid for relief from the bankruptcy stay to pursue state and federal environmental...

$20M Settlement Reached in H-2B Trafficking Case Against Signal Intl.

First, watch this video . - "Daniel Werner, SPLC senior supervising attorney, speaks about the SPLC’s lawsuit against Signal. The legal team received the Public Justice Foundation’s Trial Lawyer of the Year award for its work on the case." "A $20 million settlement agreement...

Mealey's Bankruptcy - Bankruptcy Judge Sets Asbestos Bar Date For Energy Future Claimants

WILMINGTON, Del. - Asbestos personal injury claimants of Chapter 11 debtor Energy Future Holdings Corp. (EFH), including those who have yet to show any signs of asbestos disease, have until Dec. 14 to file proofs of claim in the bankruptcy case, according to an order filed July 15 in Delaware federal...

Mealey's Bankruptcy - Insurer Drops Dismissal Bid In Rapid-American Declaratory Judgment Action

NEW YORK - One of three insurance companies sued by Chapter 11 debtor Rapid-American Corp. and its asbestos creditors for $64 million in remaining policy limits for asbestos claims on July 20 withdrew its dismissal motion in New York federal bankruptcy court in favor of allowing the debtor to file its...

Mealey's Bankruptcy - Insurer: Asbestos Claimants' Negligence Claims Barred By W.R. Grace Injunction

WILMINGTON, Del. - Asbestos personal injury claimants' negligence and bad faith claims against an insurance company are barred not only by an injunction in former Chapter 11 debtor W.R. Grace & Co.'s bankruptcy case but also by past litigation in which the same claims were twice found to...

Mealey's Bankruptcy - Pennsylvania High Court Affirms Denial Of Petition To Liquidate Insurers

HARRISBURG, Pa. - The Pennsylvania Supreme Court on July 20 affirmed a lower court decision that the rehabilitation of two insolvent insurers should not be converted to a liquidation process (In re: Penn Treaty Network America Insurance Company in Rehabilitation, No. 94 MAP 2012, Pa. Sup., Middle Dist...

Mealey's Bankruptcy - Children Of Meso Victim Seek Legal Representative For Unmanifested EFH Claimants

WILMINGTON, Del. - The son and daughter of a man who died from mesothelioma after being exposed to asbestos at a plant operated by an affiliate of Chapter 11 debtor Energy Future Holdings Corp. (EFH) say a legal representative should be appointed in EFH's bankruptcy case to protect the interests...

Mealey's Bankruptcy - GM Bankruptcy Judge Denies Motions For Relief From Ruling Barring Suits

NEW YORK - The judge overseeing the General Motors Corp. (Old GM) bankruptcy proceedings on July 22 rejected a challenge to his ruling enforcing a sale order and injunction barring hundreds suits against General Motors LLC (New GM) alleging personal injury and economic loss as a result of ignition-switch...