A tobacco company is the latest entity to use bankruptcy to try to limit its obligations for a mass tort. This instance, however, is different because the bankruptcy is in Canada, ownership of the tobacco entities ties to Japan, and the bankruptcy follows on after restructuring efforts that a trial judge viewed as probably illegal

It’s certainly been interesting to watch the last several years of opinions from the Delaware Supreme Court. A July 2018 opinion adds to the list of interesting opinions because it limits the circumstances under which business judgment deference will be allowed. The opinion is Elizabeth Morrison v. Ray Berry et. al., which was first

The Springer v.  Nohl fraudulent conveyance/asbestos case in Wisconsin highlights dubious corporate side activities, and  is finally over, for now, after producing a very narrow ruling.

The Springer case arose out of the shut down and asset sale of a business that sold asbestos-containing products. See this December 9, 2016 GlobalTort  post for summaries of

Some circuit courts had issued fairly hard to fathom opinions immunizing some corporate  transactions from fraudulent conveyance claims if banks (and others) were involved in moving money as pass-through entities. The Seventh Circuit disagreed, and created a circuit split. SCOTUS has now blessed the Seventh Circuit’s reasoning. See Supreme Court Scales Back Safe Harbor Protection

Amazing what shows up in the news everyday. One is a Valentine’s Day 2018 lawyer ad/article kind of thing promoting return to the US of overseas “asset protections trusts.”  It provides a “real life” fact pattern of a doctor with apparently plenty of money, and a possible medical malpractice problem. The answer? Zip the money

After an alleged or actual mass tort, some companies move voluntarily into chapter 11 proceedings to cope with the claims. However, some seek to salvage value via other paths, such as a move to new ownership through a sale or other corporate transaction.  The decision-making process between the two paths (or other paths) may become

Another part of the complexity of asbestos litigation lies in the efforts of some to shut down former makers of asbestos containing products, and the work of lawyers and other professionals in those efforts.  A current example arises from a case now on appeal to the Wisconsin Supreme Court. The intermediate appellate opinion in

Smart lawyers can generate better outcomes, and “defense firms” can act as plaintiffs.  That’s one of the messages from a May 23, 2016 American Lawyer article about Schiff Hardin’s finances. Some of the firm’s lawyers have spent decades as counsel to Owens-Illinois, the only national insulation maker that has avoided chapter 11 despite use of

How soon will the US Chamber of Commerce complain about K&E’s $93 million (mainly) contingent fee in the Tronox/Anadarko fraudulent conveyance case? Maybe a short but sweet: Et tu Kirkland?

The story behind the story is told in a March 7, 2016 American Lawyer article. The story follows up from AmLaw using the FOIA