Hints and tips:
...It initially fought claimants in the civil courts, winning more cases than it lost....
...particularly in asbestos cases, are very sick.”...
...On Friday a US bankruptcy judge threw out a motion by talc claimants to dismiss the bankruptcy of J&J subsidiary LTL Management in a ruling that critics warn could open the floodgates for other companies...
...Lawmakers have drafted legislation in Congress aimed at halting the practice, bankruptcy judges are being more circumspect in these cases and some asbestos claimants are suing to block the bankruptcy applications...
...The bankruptcy case was subsequently moved to New Jersey, where J&J is headquartered....
...And some asbestos claimants are suing to block J&J’s bankruptcy applications. For now though, the music is still playing — and some lawyers are certainly dancing....
...Critics allege the manoeuvre essentially shifts the legal battle from jury courts to bankruptcy courts, denies claimants their right to be heard in open court and leads to delays in the delivery of justice...
...Kamensky, who co-chaired an official committee of creditors, offered to buy some of those illiquid shares for 20 cents on the dollar from fellow claimants who wanted immediate cash....
...That case was settled between a junior creditor group and Ares/CPPIB, where the latter ceded $172m worth of MyTheresa securities to trade claimants and junior bondholders without admitting wrongdoing....
...Mr Fauci and other senior health officials will testify remotely after two cases of coronavirus were confirmed on Monday inside the West Wing....
...Just ahead of Detroit’s bankruptcy filing last week, Kevyn Orr, the city’s emergency manager, proposed a bus tour for creditors, claimants and advisers to show them first-hand the ruins of much of the municipality...
...A shortfall in funds could force providers into bankruptcy. There are real fears that “the budget will not stretch” to accommodate the additional customers, the committee said....
...In most cases, federal bankruptcy laws work appropriately for the resolution of nonbank financial institutions....
...The appeal was taken to the top court by other creditors, including asbestos claimants....
...The company has many creditors: bondholders, trade creditors, asbestos claimants and more than 40 banks that extended over $2bn in loan committments to Owens Corning and five of its subsidiaries in 1997....
...“His [Mr Byers’] demeanour throughout – no doubt the claimants would say that this was yet more successful dissembling – was of a witness confident in the rightness of his case....
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