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Asbestos Reserves Pose Re Challenges

The spotlight is on asbestos litigation, given the escalation of claims and the number of large awards made to unimpaired litigants, which may drain available funds from those plaintiffs who are significantly impaired.

Defendants (old and new) have also received their share of the headlines. Old names such as Johns Manville continue to see claim activity escalate, causing the need again to review trust payout schedules.

Numerous other defendants have followed Manvilles example, attempting to resolve their asbestos liabilities under the protection of Chapter 11 of the U.S. bankruptcy code (21 in the last 24 months).

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