Second Circuit Allows Asbestos Claims to Proceed Against Pfizer

An in-depth look at why and how the Second Circuit reached its decision on asbestos claims against Pfizer, whose parent company had filed for bankruptcy.

28 minute readJuly 26, 2012 at 01:02 PM
By
Steven B. Smith
Dana Gale Hefter
Second Circuit Allows Asbestos Claims to Proceed Against Pfizer

In September 2004, the Quigley Company, a wholly owned subsidiary of Pfizer, filed for Chapter 11 relief in the United States Bankruptcy Court for the Southern District of New York, and advised the court in its first-day filings that it intended on filing a pre-negotiated Chapter 11 plan as soon as practicable that would establish a trust and provide for channeling injunctions in favor of, among others, Pfizer, a non-debtor third party, pursuant to 11 U.S.C. ' 524.

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