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The Treatment of the Debtors' Insurance in Recent Asbestos Bankruptcy Cases
Since the 1980s, dozens of asbestos bankruptcy cases have been filed. In many of these cases, issues relating to the treatment of the debtor's insurance coverage for asbestos claims have been heavily litigated. To comprehensively discuss the handling of the debtor's insurance in these cases would be daunting and lengthy. This article provides an overview of the principal options and variations with respect to treatment of insurance in asbestos-related Chapter 11 proceedings and focuses on four recent asbestos bankruptcy cases.
In bankruptcies, insurance proceeds for asbestos claims generally have been handled in one of two ways. First, and most frequently, insurance proceeds are assigned to an asbestos personal injury claims trust established under '524(g) of the Bankruptcy Code, as in the Babcock & Wilcox, Combustion Engineering and Western MacArthur cases discussed below. Second, and less frequently, the debtor retains rights to insurance proceeds, and the reorganization plan does not assign such rights to the trust. This option is realistic only for debtors or corporate families able to contribute substantial non-insurance assets, such as in the Mid-Valley/Halliburton case discussed below.
Major Differences In UK, U.S. Copyright Laws
This article highlights how copyright law in the United Kingdom differs from U.S. copyright law, and points out differences that may be crucial to entertainment and media businesses familiar with U.S law that are interested in operating in the United Kingdom or under UK law. The article also briefly addresses contrasts in UK and U.S. trademark law.
Strategy vs. Tactics: Two Sides of a Difficult Coin
With each successive large-scale cyber attack, it is slowly becoming clear that ransomware attacks are targeting the critical infrastructure of the most powerful country on the planet. Understanding the strategy, and tactics of our opponents, as well as the strategy and the tactics we implement as a response are vital to victory.
Beach Boys Songs Written Decades Ago Triggered Current Quarrel With Lawyers
There's current litigation in the ongoing Beach Boys litigation saga. A lawsuit filed in 2019 against Nevada residents Mike Love and his wife Jacquelyne in the U.S. District Court for the District of Nevada that alleges inaccurate payment by the Loves under the retainer agreement and seeks $84.5 million in damages.
Removing Restrictive Covenants In New York
In Rockwell v. Despart, the New York Supreme Court, Third Department, recently revisited a recurring question: When may a landowner seek judicial removal of a covenant restricting use of her land?
When Is a Repair Structural or Nonstructural Under a Commercial Lease?
A common question that commercial landlords and tenants face is which of them is responsible for a repair to the subject premises. These disputes often center on whether the repair is "structural" or "nonstructural."