S. Todd Brown of Temple University has written an insightful law review article desribing in detail Congress’ incredibly costly error in creating the bankruptcy code section (524(g)) with terms that have turned out to give a very small number of plaintiff’s law firms “veto power” over asbestos-related chapter 11 plans. Strengths of the article include crisp writing, a great collection and distillation of relevant facts not well known to outsiders, cogent legal cites, and a logical organizational sequence that adds to the article’s persuasive impact. The article is titled: Section 524 (g) Without Compromise: Voting Rights and the Asbestos Bankruptcy Paradox (Colum. Bus. L. Rev. (forthcoming 2008). The article is available on SSRN. Apparently the article is being published at 2008 Colum. Bus. L. Rev. # 3, at 841 but that link only takes you to an image of the cover of the law review.
I’m trying to figure out why the article has not been more widely publicized to date. Indeed, I found the article by accident while looking at results from a Google search for the cite for another article on section 524(g). When I Googled the article, all I found it mentioned in were mundane collections of lists of law review articles, and a slightly more extensive post on the Mass Tort Litigation Blog, with the post showing the article title and the abstract.
Various quotes and points from the article will soon show up here, but don’t wait – go get and read the article if you are involved in asbestos litigation in particular or mass tort claiming in general.