April 30, 2014 news reports say that the US treasury now reports losing $11.2 billion on the GM takeover fiasco, and has written off its “investment” in old GM.  (See below for cut and paste.) The government obviously went into the “deal” knowing that the big picture was that jobs and industries would be saved,

Asbestos defendants continue to convince state legislatures to create some long overdue intersections between personal in jury claims in te the tort system and in the bankruptcy trust claiming system. The most recent outcome is in Oklahoma, where legislators approved this new statute.  The governor is expected to sign the bill. 

The new statute

Bankruptcies are frequently used to resolve mass tort situations. In some instance, a bankruptcy is fairly foreseeable as tort claims grow. Therefore, a pertinent question is whether or when bankruptcy courts will enforce or strike out contract clauses that purport to operate upon the filing of bankruptcy petition or insolvency. A recent case in Canada