Bankruptcy Trusts Archives

Category: Bankruptcy Trusts

July 31, 2019 • Asbestos Case Tracker, Bankruptcy Trusts, North Carolina

Claimants Committee Motion to Dismiss Denied by Bankruptcy Court; Finding that Bestwall’s Bankruptcy Reorganization was not Filed in Bad Faith

NORTH CAROLINA – Asbestos claimants (claimants committee) in this Chapter 11 case filed a motion to dismiss the bankruptcy case filed by Georgia Pacific (GP) for its acquisition of Bestwall arguing that the petition was filed in bad faith and established a reorganization that was “objectively futile.” By way of background, GP filed for corporate … Continued

July 31, 2018 • Asbestos Case Tracker, Bankruptcy Trusts, New York

Claims Against Manville Insurer Permitted to Proceed For Violation of Due Process

NEW YORK — The plaintiff, Salvador Parra, developed asbestosis after working as an insulator in the 1960s and 1970s. He filed suit in 2009 in Mississippi against numerous Manville-related entities, including Marsh USA, Inc., a Manville insurer. In 1986, Marsh contributed $29.75M to the Manville Trust in exchange for a release of all claims “arising out … Continued

July 27, 2017 • Asbestos Case Tracker, Bankruptcy, Bankruptcy Trusts, Case Decisions, New York

Channeling Injunction Prohibits General Motor’s Wrongful Death Suit for Contribution against the Manville Trust

General Motors (GM) filed suit against the Manville Personal Injury Settlement Trust (Manville) seeking a declaratory order that its state suit against Manville was not barred by the longstanding “Channeling Injunction” of the Manville Corporation’s chapter 11 reorganization (the Plan) and subsequent order confirming the same. Separate from the declaratory complaint, GM filed suit in … Continued

November 10, 2016 • Asbestos Case Tracker, Bankruptcy Trusts, State>Delaware

Bankruptcy Court Grants Asbestos Defendants Limited Access to Bankrupt Trust Exhibits

Honeywell International, Inc. who was joined by Ford Motor Company moved for an order authorizing “any entity . . . to access, inspect, copy and receive copies of … any and all of the 2019 Exhibits filed with the Court in compliance with the 2019 Order or Bankruptcy Rule 2019.” In other words, Honeywell and … Continued

July 11, 2016 • Asbestos Case Tracker, Bankruptcy Trusts, Case Decisions, New York, Verdict Reduction

Appellate Court Grants New Trial Due to Lower Court’s Error on Jury Charge as to “Recklessness Standard”

In the matter of the Estate of Lee Holdsworth, in the Supreme Court of New York, Erie County (Lower Court), judgment was entered against the defendant Crane Co. upon a jury verdict finding that Crane Co. was 35 percent liable for the damages arising from injuries sustained by Lee Holdsworth (the plaintiff’s decedent) as a … Continued

January 27, 2016 • Asbestos Case Tracker, Bankruptcy Trusts, Case Decisions, Pennsylvania, Summary Judgment

Two Rulings From MDL Allow Previously Dismissed Asbestos Claims to Proceed Against Various Ship Owners Despite Previous Dismissed Actions Not Listed as Assets in Bankruptcy

In a follow-up to six cases previously reported on in ACT, two more cases were decided in the United States District Court for the Eastern District of Pennsylvania. Both cases had started in the Northern District of Ohio, and were transferred to the MDL 875 in the Eastern District of Pennsylvania. In both cases, the … Continued

November 3, 2015 • Asbestos Case Tracker, Bankruptcy Trusts, Case Decisions, Pennsylvania, Summary Judgment

Chunk of Rulings From MDL Allow Previously Dismissed Asbestos Claims to Proceed Even Though Not Listed As Assets In Bankruptcy

Six cases were decided in the United States District Court for the Eastern District of Pennsylvania; all started in the Northern District of Ohio, and were transferred to the MDL 875 in the Eastern District of Pennsylvania. In all six cases, the plaintiffs brought claims against various shipowners represented by Thompson Hine LLP, and all … Continued

October 16, 2015 • Asbestos Case Tracker, Bankruptcy Trusts, Case Decisions

Claim Representatives For Filing Bankruptcy Trust Claims Have No Standing To Sue Bankruptcy Trusts For Suspending Claims

Plaintiff Mandelbrot Law Firm specialized in preparing and filing asbestos personal injury claims to various bankruptcy trusts. In 2002, one such trust, the Delaware Trusts, suspended all payment of claims from claimants who the plaintiff represented, due to proceedings in California regarding allegedly fraudulent claims filed by the plaintiff. The plaintiff then filed this declaratory … Continued

September 3, 2015 • Asbestos Case Tracker, Bankruptcy Trusts, Case Decisions

Court Refuses to Dismiss Garlock’s RICO Complaints Against Plaintiff Law Firms

Following the well-publicized decision in the Garlock bankruptcy, Garlock commenced a number of actions in federal court against asbestos plaintiffs’ law firms that allegedly engaged in fraud in the settlement of their clients’ mesothelioma claims against Garlock. In two of these actions, the defendant plaintiffs’ firms moved to dismiss the complaint under Federal Rule of … Continued

July 24, 2015 • Asbestos Case Tracker, Bankruptcy Trusts, Case Decisions, Damages, New York

NYCAL Court Denies Post-Verdict Disclosure of Settlement Amounts and Agreements

In this NYCAL case, defendants Cleaver Brooks, Inc. and Burnham LLC brought post-verdict motions on a variety of issues, including disclosure of settlements for the purpose of molding the judgment. By the time the motion was heard, the remaining issues were if “plaintiffs failed to disclose settlements in a timely fashion, and, if so, whether … Continued