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Insurance Rights Can Be Assigned To Asbestos Trusts, 3rd Circuit Holds

PHILADELPHIA - (Mealey's) The U.S. Bankruptcy Code trumps anti-assignment provisions in insurance policies, the Third Circuit U.S. Court of Appeals held May 1 ( In re: Federal-Mogul Global Inc., et al. , Nos. 09-2230 and 09-2231, 3rd Cir.; 2012 U.S. App. LEXIS 8814). ( Opinion. Document #48-120529...

Duane Morris LLP: FACT Act Promises Transparency In Bankruptcy Trust Claims And Payments For Asbestos Exposure

Asbestos defendants are one step closer to greater transparency regarding the often illusive bankruptcy trust claims and payments. On Wednesday, November 13, 2013, the U.S. House of Representatives passed H.R. 982, the Furthering Asbestos Claim Transparency (FACT) Act by a 221-199 vote. FACT would amend...

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...