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ASARCO LLC
asbestos
asbestos bankruptcy trusts
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Marc C. Scarcella
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Peter R. Kelso
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Emerson Heffner
over 9 years ago
Bankruptcy
Bankruptcy Law Blog
Bankruptcy Judge: Plaintiffs, Lawyers Covered Up Evidence in Garlock Meso Cases
CHARLOTTE, N.C. — (Mealey’s) Chapter 11 debtor Garlock Sealing Technologies LLC’s total estimated liability for present and future mesothelioma claims is only $125 million, not $1.2 billion as asbestos personal injury claimants argued...
Maureen McGuire
over 8 years ago
Bankruptcy
Bankruptcy Law Blog
Supreme Court Won’t Rule On Injunctive Relief Under Bankruptcy Code Section 524(g)
WASHINGTON, D.C. — (Mealey’s) The U.S. Supreme Court today denied a petition to resolve the question of whether a bankruptcy court’s order barring the assertion of contribution claims against settling insurers must be accompanied by...
Tom Moylan
over 9 years ago
Bankruptcy
Bankruptcy Law Blog
9th Circuit Vacates Asbestos Bankruptcy Reorganization; Says Trust Isn’t In Control
SAN FRANCISCO — (Mealey’s) The Ninth Circuit U.S. Court of Appeals on Oct. 28 vacated the bankruptcy reorganization plan for a former asbestos insulator, finding that the plan failed to satisfy the requirements of Section 524(g) of the Bankruptcy...
Emerson Heffner
over 8 years ago
Bankruptcy
Bankruptcy Law Blog
2nd Circuit: Bankruptcy Court Order Final; Insurers’ Deals With Asbestos Claimants Valid
NEW YORK — (Mealey's) The Second Circuit U.S. Court of Appeals on July 22 reinstated a federal bankruptcy court ruling requiring two insurance companies to pay $510 million to asbestos personal injury plaintiffs under decades-old settlements...
Bryan Redding
over 9 years ago
Bankruptcy
Bankruptcy Law Blog
U.S. House Approves Asbestos Trust Disclosure Bill
WASHINGTON, D.C. — (Mealey’s) Saying the measure will provide much needed transparency in the more than 60 asbestos-bankruptcy trusts and help prevent fraud, the U.S. House of Representatives on Nov. 13 passed House Resolution 982, the Furthering...
Emerson Heffner
over 9 years ago
Bankruptcy
Bankruptcy Law Blog
Garlock Sues Law Firms, Alleging Fraud Over Asbestos Claims
CHARLOTTE, N.C. — (Mealey’s) Chapter 11 debtor Garlock Sealing Technologies LLC filed four adversary complaints yesterday in a North Carolina federal bankruptcy court against several law firms and attorneys, alleging conspiracy, fraud and...
Emerson Heffner
over 9 years ago
Bankruptcy
Bankruptcy Law Blog
Pfizer Faces Asbestos Actions after Supreme Court Declines to Hear Case
WASHINGTON, D.C. - (Mealey's) The U.S. Supreme Court on June 24 denied a bid for certiorari by Pfizer Inc. of a ruling removing the protection for Pfizer of a bankruptcy injunction barring asbestos personal injury claims entered in the case of...
Emerson Heffner
over 9 years ago
Bankruptcy
Bankruptcy Law Blog
Bankruptcy Judge Sets Specialty Products’ Asbestos Liability At $1.16 Billion
WILMINGTON, Del. -- (Mealey's) Former joint compound producer Bondex International Inc. and its related holding company Specialty Products Holding Corp. face an estimated $1.16 billion in pending and future asbestos personal injury claims, about...
Bryan Redding
over 8 years ago
Bankruptcy
Bankruptcy Law Blog
NYCAL Justice Ends Deferral of Punitive Damages, Keeps CMO Intact
NEW YORK — (Mealey’s) Continued deferral of punitive damages in New York City Asbestos Litigation (NYCAL) unfairly prejudices plaintiffs, and fears of runaway verdicts bankrupting defendants appear overblown in light of the standard necessary...
Cheryl Keely
over 12 years ago
Litigation
Litigation Blog
Garlock Sealing Files For Chapter 11 Bankruptcy
CHARLOTTE, N.C. - (Mealey's) Garlock Sealing Technologies on June 5 filed a voluntary petition for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Western District of North Carolina to establish a trust to resolve all current and future...
Cheryl Keely
over 12 years ago
Litigation
Litigation Blog
Judge Denies Quigley Company's Plan Of Reorganization
NEW YORK - (Mealey's) Finding that Pfizer Inc. manipulated creditor votes in seeking support for a plan of reorganization for its wholly owned subsidiary Quigley Co. Inc., a New York bankruptcy judge on Sept. 8 denied Quigley's plan of reorganization...
Emerson Heffner
over 12 years ago
Litigation
Litigation Blog
Bankruptcy Judge Recommends Approval Of W.R. Grace's Reorganization Plan
WILMINGTON, Del. - (Mealey's) A federal bankruptcy judge in Delaware on Jan. 31 resolved the last objections to W.R. Grace & Co.'s Chapter 11 joint plan of reorganization and recommended that the district court approve the plan ( In re: W...
LexisNexis Legal Newsroom Staff
over 9 years ago
Litigation
Litigation Blog
Asbestos Litigation, Attorney Advertising & Bankruptcy Trusts: The Economic Incentives Behind The New Recruitment Of Lung Cancer Cases
By Marc C. Scarcella, Peter R. Kelso, and Joseph Cagnoli, Jr. [Editor's Note: Marc C. Scarcella and Peter R. Kelso, Managers at the Washington, D.C., office of Bates White Economic Consulting. Joseph Cagnoli, Jr., Shareholder in the Philadelphia...
Emerson Heffner
over 11 years ago
Litigation
Litigation Blog
Bankruptcy Judge Again Denies Confirmation Of Pittsburgh Corning's Reorganization Plan
PITTSBURGH - (Mealey's) Changes that Pittsburgh Corning Corp. (PCC) made to its Chapter 11 plan of reorganization following denial of plan confirmation in 2006 have not made the plan confirmable, though the plan's problems can still be fixed,...
Emerson Heffner
over 7 years ago
Litigation
Litigation Blog
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...
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