Real-Time Court Decisions and Other Developments in Asbestos Litigation.
The U.S. Supreme Court on June 6 unanimously held in Truck Insurance Exchange v. Kaiser Gypsum Company Inc. that insurers with financial responsibility for bankruptcy claims are a “party in interest” that may object to a reorganization plan under Chapter 11 of the Bankruptcy Code. In 2016, building material manufacturer Kaiser Gypsum Co. and its parent … Continued
Many bankruptcy trusts expanded their approved jobsite lists in the second quarter of 2023, allowing compensation for more individuals who claim to have an asbestos-related injury. However, as can be seen below, many trusts also have decreased their payment percentages. In fact, only two bankruptcy trusts have increased their payment percentages during the 2nd quarter of … Continued
The end of 2022 saw a number of changes to the asbestos bankruptcy trusts, including site list updates to half of the trusts that saw changes during this time. As the Asbestos Case Tracker previously reported, the trend of trusts decreasing their percentage payments continued in the fourth quarter of 2022, with three more trusts … Continued
Many trusts this year have expanded their approved job site lists, allowing compensation for more individuals who claim to have an asbestos-related injury. However, as can be seen below, many trusts also have decreased their payment percentages. In fact, there has not been an increase in payment percentages during the 3rd quarter of 2022 from … Continued
Honeywell International, Inc. has filed a claim in the U.S. Bankruptcy Court for the Western District of Pennsylvania against the North American Refractories Co. asbestos victims trust. In the lawsuit, Honeywell alleges the fund’s managers are wrongly paying claimants who allege they have suffered injuries related to asbestos exposure. The lawsuit follows several years of … Continued
U.S. Court of Appeals for the Third Circuit, September 15, 2021 W.R. Grace & Co. (Grace) operated an asbestos mining and processing facility in Montana from 1963 to 1990. After declaring Chapter 11 bankruptcy, Grace emerged and reorganized. Its reorganization plan included the establishment of an asbestos personal-injury trust, through which all asbestos-related personal injury … Continued
As previously reported on Asbestos Case Tracker, by the end of the first quarter of 2021 there were 11 trusts which had changes impacting the amount of compensation available to individuals claiming asbestos-related injuries. As the second quarter of 2021 comes to a close, there are now changes to nine trusts, five of which also … Continued
Asbestos bankruptcy trusts remain a topic frequently monitored and reported on Asbestos Case Tracker. As the first quarter of 2021 comes to a close, we have seen a number of changes to 11 trusts that will impact the amount of compensation available to individuals claiming asbestos-related injuries. Below is a summary of the changes, to … Continued
Previously on Asbestos Case Tracker, we took a look at the successful efforts of certain states to combat manipulation and abuse of the asbestos bankruptcy trust system. These states passed legislation that prevents claimants from being doubly compensated for alleged exposures to asbestos-containing products manufactured, used, or supplied by bankrupt and viable companies. The legislation enabled … Continued
Defendants Honeywell and Ford Motor appealed the District Court’s decision affirming the denial of “unconditional access” to numerous exhibits submitted in connection with “administering nine asbestos bankruptcies.” The court had previously permitted review of the documents for three months with certain limitations. However, unfettered access was denied as doing so would “pose an undue risk … Continued