July/August 2022
Feature Article
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Will Texas Two-Step Remain Part of Restructuring’s Mass Tort Dance Routine
How mass torts may be addressed through a bankruptcy process is a topic garnering significant academic and practical attention, but for which there is no easily identifiable solution. Although a fundamental goal of U.S. bankruptcy laws is to give debtors a financial fresh start from burdensome debts, outside the context of asbestos-related torts, the Bankruptcy […]
More from this Issue
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Mass Tort Insolvencies: What’s Old Is New Again
This month’s issue of the JCR tackles the hot topic of mass tort bankruptcies. Many of today’s restructuring professionals weren’t practicing in the early 1980s when Congress and the courts began to grapple with mass tort bankruptciesin the context of asbestos insolvencies. And yet, nearly 40 years later, there are still open questions as to […] -
Looking Forward
As we journey into the second half of 2022, this is a good time to pause and reflect on where we are as an organization and how we continue to improve on what it means to be a member of TMA. When we opened the year, two notable projects were at the forefront. The first […] -
Mass Torts and the Texas Two-Step: Not Your Typical Line Dance
Welcome to the mass torts issue of the TMA JCR. This issue introduces some new moves for restructuring and bankruptcy professionals. At its most simplistic level, a mass tort is a civil action that involves a high number of plaintiffs against one or a few defendants. These lawsuits, which may be filed in a state […] -
Will Texas Two-Step Remain Part of Restructuring’s Mass Tort Dance Routine
How mass torts may be addressed through a bankruptcy process is a topic garnering significant academic and practical attention, but for which there is no easily identifiable solution. Although a fundamental goal of U.S. bankruptcy laws is to give debtors a financial fresh start from burdensome debts, outside the context of asbestos-related torts, the Bankruptcy […] -
Mass Tort Insolvencies: A Catalyst for Change in the Canadian Restructuring Landscape
Insolvency and restructuring proceedings under Canada’s Companies’ Creditors Arrangement Act (CCAA) have come a long way over the last 20 or so years. There was a time when a company couldn’t hope to benefit from CCAA protection without a clear path to restructuring its business and settling its debts through a plan of arrangement. As […] -
Standards and Strategies for Voting and Solicitation in Mass Tort Bankruptcies
In recent years, Bankruptcy Courts have seen an influx of bankruptcies that primarily result from a debtor’s outstanding mass tort liability. While many commentators focus on plan confirmation issues, such as non-debtor releases, mass tort bankruptcies pose unique challenges in the solicitation and balloting process that are often overlooked as preliminary or administrative matters. Because […] -
Insurance Neutrality in Mass Tort Bankruptcy Cases
In bankruptcy law, insurance neutrality is closely related to the issue of standing. A bankruptcy plan of reorganization is insurance neutral if it does not increase an insurer’s “pre-petition obligations nor impair their pre-petition contractual rights under the subject insurance policies.” In re Global Industrial Technologies, 645 F.3d 201, 212 (3d Cir. 2011) (citing In […] -
Strategic Communications in Mass Tort Restructurings
While companies and advisors understand that communications and stakeholder relations have an important role to play in a successful restructuring process, the need to effectively plan for and manage communications in mass tort Chapter 11cases is significantly heightened. The restructuring process has the potential to create fear and disruption for every stakeholder in a company or organization. […] -
The Book on Siegel v. Fitzgerald: The U.S. Trustee Program and Cold, Hard Cash
U.S. inflation recently hit a headline-grabbing, 40-year high of 8.6%. Alarming as that may be, it pales in comparison to the increase in U.S. Trustee fees Congress imposed in 2017. Most debtors experienced fee hikes of at least 700%, while some saw increases of as much as 1,250%. The sticker shock created consternation—and litigation—in the […] -
Helping Those on the Move: Natalie Friend Wilson
Q: How did you gravitate into turnaround/restructuring work? Wilson: It was completely by happenstance. I went to law school at the University of Hawaii wanting to do environmental regulation and environmental litigation. I have a certificate in environmental law. I graduated from law school in 2007 and clerked for Associate Justice Simeon Acoba at the Hawaii […] -
Newcomers: July/August 2022
Arizona Jackson J. Everhart Noel T. Lally Atlanta Iryna Byela Curt S. Friedberg, GGG Partners LLC Arcan A. Hajer, Huron Emily R. Thomann, FTI Consulting Carolinas Kadijah Reams, Elizabeth City State University Chesapeake Ji Woong Chung Michael Condyles Harry C. Jones III, Cole Schotz PC James Morrell Adolyn C. Wyatt Chicago/Midwest Reed Almassian, Miami University of Ohio […]
Snapshot Article
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