In this commentary, Mark D. Plevin, Leslie A. Davis and Noah S. Bloomberg of  Crowell & Moring LLP note that the pace of asbestos-related bankruptcy filings has begun to pick up somewhat since 2007.  They write:

“In addition, some of the previously-filed bankruptcy cases are moving toward an exit, and we have seen some significant themes developing in cases where the debtor seeks § 524(g) relief. We have also seen some asbestos bankruptcy cases that were resolved, or may be resolved, without § 524(g) relief.”

This article updates the authors’ last four by noting the asbestos-related bankruptcies that have been filed since their 2007 article, summarizing some key developments in asbestos bankruptcies and discussing some of the significant themes that have developed in these cases.

At the end of the article, they present updated versions of three charts appended to their last article: one listing asbestos bankruptcies that have been filed so far, in chronological order; one providing the same information, with the debtors listed in alphabetical order; and a third listing the case numbers of asbestos bankruptcies, the status of the plans in those cases, and the published decisions that have arisen from those cases.

“Many years of intense litigation in asbestos bankruptcy cases has left a large number of open or unanswered questions, about substantive law and procedure, that will continue to be addressed in such cases in the future,” they conclude.

Subscribers can access the complete commentary on lexis.com. Additional fees may be incurred. (approx. 32 pages)