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From the first year of law school, attorneys know that one of the first things they must determine when responding to a complaint is whether the claims are time-barred, either by an applicable statute of limitation, or statute of reposeFrom the first year of law school, attorneys know that one of the first things they must determine when responding to a complaint is whether the claims are time-barred, either by an applicable statute of limitation, or statute of repose. . Most attorneys are familiar with equitable tolling of limitation periods, but product liability attorneys and their clients are often less acquainted with tolling or revival of periods of repose through post-sale actions by the manufacturer or seller of the product at issue. Statutes of repose, like statutes of limitation, vary from state to state, but generalities about the effect of post-sale manufacturer or seller conduct have emerged. This article discusses the emerging law and concludes with some advice on how to foresee and deal with that law.
What Is a Statute of Repose?
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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.
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