Bankruptcy Judge David S. Jones of New York ruled recently on a chapter 11 plan from cosmetics company Revlon regarding asbestos claims arising from products containing talc. In his ruling, Judge Jones noted that future asbestos claims can be discharged without a trust. In the American Bankruptcy Institute’s Rochelle’s Daily Wire, Professor Ralph Brubaker provided […]
Professor Ralph Brubaker’s article, “Mass Torts, The Bankruptcy Power, and Constitutional Limits on Mandatory No-Opt-Outs Settlements,” was recently added to SSRN’s Top Ten Download list. The article, published by the Florida State University Business Review, is an examination of “constitutional tensions produced by aggressive efforts to resolve mass-tort liability through federal bankruptcy proceedings, as illustrated […]
In the wake of the Supreme Court’s ruling in the Purdue Pharma bankruptcy, Professor Ralph Brubaker—who submitted an amicus brief in the case—published an article in the Harvard Law School Bankruptcy Roundtable on the implications of the ruling and issues that remain unsettled after the ruling. “Unless bankruptcy is to become a facile end-run around […]
Bayer AG is considering employing the controversial legal tactic known as the Texas Two-Step bankruptcy to address the thousands of lawsuits alleging that its Roundup weedkiller causes cancer. The strategy, which involves splitting assets and liabilities into separate units, with the unit burdened by liabilities being placed into bankruptcy to facilitate a global settlement, is […]
A recent $2.5 billion bankruptcy settlement between the Boy Scouts of America and childhood sexual abuse survivors seemed to put a close to an awful chapter in the victims lives, until the settlement was halted by the U.S. Supreme Court due to concerns over the legality of mandatory releases of claims against nondebtor third parties. […]
The United States Bankruptcy Court Western District of North Carolina recently denied a motion to dismiss the bankruptcy of companies implicated in asbestos liability cases, citing and quoting from several articles by Professor Ralph Brubaker. The case involves Texas Two-Step mass-tort bankruptcy, a topic in which Brubaker has researched and published extensively. The decision cites […]
Professor Ralph Brubaker has received the Lawrence P. King Award for Excellence in the Field of Bankruptcy by the Commercial Law League of America. Below is the text of the press release announcing the award. Commercial Law League of America Announces 2024 Lawrence P. King Award Recipient Rolling Meadows, IL, February 29, 2024 – The […]
The strength of Professor Ralph Brubaker’s scholarship provided “considerable force” in the mind of Bankruptcy Judge J. Craig Whitley of Charlotte, N.C., and he cited Brubaker’s work extensively when denying a motion to dismiss a pair of “asbestos” chapter 11 cases where the family of companies could pay $250 million in current and future liability. […]
In late December 2023, U.S. bankruptcy court in North Carolina denied motions to dismiss the Texas Two-Step mass-tort bankruptcy cases of entities created to resolve the asbestos liability of the Trane companies. This type of maneuver involves splitting a company into two, moving the liabilities to one company, and then seek bankruptcy protections to absolve […]
In the pending U.S. Supreme Court case regarding Purdue Pharma’s litigation shield for the Sackler family, the decision of the Court could impact widely used non-debtor releases in Chapter 11 bankruptcy cases. Professor Ralph Brubaker suggested to Bloomberg Law the ruling might affect cases involving mass torts, including cases involving the Catholic diocese, Boy Scouts, […]