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Feeling Left Out: The Debate over Insurer Participation in Prepackaged Bankruptcy Plans
In recent years, an increasing number of companies have sought to resolve current and future liability for long-tail exposures, such as asbestos or silica, by filing prepackaged bankruptcy cases. These bankruptcy filings raise numerous insurance-related issues.
In a typical prepackaged bankruptcy case, a company facing asbestos liabilities and the law firms representing the asbestos claimants engage in extensive negotiations regarding the potential resolution of the company's liabilities, in which insurers are not permitted to participate. These negotiations ultimately result in a settlement of the company's current and future asbestos liabilities that is memorialized in a prepackaged bankruptcy plan. Prior to filing the bankruptcy case, the company seeks and obtains support for the proposed plan from its creditors. Once the requisite creditor support is attained, the company files its prepackaged bankruptcy case seeking to significantly streamline the normal Chapter 11 bankruptcy process.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
The DOJ's Corporate Enforcement Policy: One Year Later
The DOJ's Criminal Division issued three declinations since the issuance of the revised CEP a year ago. Review of these cases gives insight into DOJ's implementation of the new policy in practice.
A Lawyer's System for Active Reading
Active reading comprises many daily tasks lawyers engage in, including highlighting, annotating, note taking, comparing and searching texts. It demands more than flipping or turning pages.
Protecting Innovation in the Cyber World from Patent Trolls
With trillions of dollars to keep watch over, the last thing we need is the distraction of costly litigation brought on by patent assertion entities (PAEs or "patent trolls"), companies that don't make any products but instead seek royalties by asserting their patents against those who do make products.