Asbestos Bankruptcies Plague Insurers Do prepackaged arrangements deprive carriers of right to defend against claims?
Attorneys describing asbestos claims litigation action contend the main focus for legal battles continues to be in bankruptcy court, where some say insurers have taken a judicial beating.
The activity in that arena that draws the particular ire of insurance carrier advocates is the creation of prepackaged bankruptcies, which they argue deprive carriers of a right to defend against claims. For some insurers, however, a prepackaged process can work to their advantage, according to lawyers.
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