GlobalTort

GlobalTort

The Intersection Among Torts, Science, Corporate Law, Insurance & Bankruptcy

Category Archives: Securities and Asbestos

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CSR Demerger Effort To Go to the Next Step – Australian Appellate Court Opinion Provides Narrow Guidance on Corporate Asset Divestitures While Facing Significant Asbestos Claiming

Posted in Asbestos, Australia, CSR, Schemes, Securities and Asbestos
Estimates and disclosure of contingent risks are front and center these days in various contexts. Thus, asbestos-specific estimates and disclosures are prominently mentioned in a new  Australian appellate decision in CSR. The opinion was issued at the end of last week, and provides some narrow guidance on solvent schemes of arrangement for companies facing asbestos claiming. A prior post here  describes the trial… Continue Reading

Mass Tort Battles Ahead – New Thinking and Arguments, UK Report Endorses Litigation Funding, and Phillip Morris Hires David Bernick from K & E

Posted in Asbestos Bankruptcy, Class Actions/Aggregate Litigation, Fraudulent Conveyance, Medical Monitoring, Securities and Asbestos, Tobacco
I’m setting aside James Hardie and Australia for a few days. News on Friday provides a great springboard for some comments in the same general area of what’s new in mass tort resolution thinking, and some points related to corporate actions to cope with/avoid/limit the corporate damage from mass tort claims._____________________________________________________________________________ How does big tobacco admit it  faces massive global tort warfare… Continue Reading

Update: The Difficulties of Managing Contingent Liabilities – Now James Hardie Is Hit with the Burden of $ 14 Million Verdict for Antitrust Violations

Posted in Asbestos Trusts, James Hardie, Reputation Risk, Securities and Asbestos
The Australian version of the WSJ has an interesting article by a McKinnsey consultant writing about corporate reputation risk, with the article somewhat tied back to James Hardie. An interesting read. _________________________________________________________ Contingent liabilities are not easy to manage, as exmplified by this month’s events for James Hardie. To begin with, its business is down… Continue Reading

Updated – James Hardie – Links to the Opinion/Judgment, the Charges by the AU SEC and a Tally on the Outcomes

Posted in Asbestos Trusts, James Hardie, Policy Issues, Securities and Asbestos
The Australian SEC – known as ASIC – has posted on its website the charges it filed, and a document summarizing which charges were sustained and which were dismissed. All of the charges relate in one way or the other to James Hardie’s contingent risks regarding asbestos claims. Update: The opinion/judgment is available here.… Continue Reading