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Transparency in Bankruptcy

Once again, the public domain is expanding to include additional thousands of documents from priest sex abuse cases, and blogs collect documents and related information. These disclosures stand in marked contrast to the increasing secrecy imposed by asbestos bankruptcy trusts and bankruptcy courts over the last few years. The bankruptcy trusts and bankruptcy courts

The W. R. Grace chapter 11 case has produced a striking motion that highlights the too often bizarre and unconstitutional nature of much that happens in mass tort chapter 11 cases. In their motion, available here [Docket # 22543], the Asbestos Creditors Committee and the Futures Representative ask the bankruptcy court, Judge Judith Fitzgerald, to

A new article is out regarding problems with asbestos bankruptcy trusts, which are the antithesis of transparency, as previously described here and here. In a prior article last year, three Cozen O’Conner lawyers (they represent insurers) wrote a significant Norton Bankruptcy Journal article detailing the lack of transparency in the asbestos trusts. The authors

PACER is a great resource, and I am one of the many who are delighted it exists. But the absence of transparency in chapter 11 cases causes me to join with the numerous critics of PACER’s ongoing flaws, many of which are well described and collected by Tim Lee at ars technica in an April