On June 6, 2024, the United States Supreme Court issued its long-awaited ruling in Truck Insurance Exchange v. Kaiser Gypsum Co., Inc., et al.,1 nullifying the insurance neutrality test for insurer standing in bankruptcy...more
Last week’s Privilege Point described an opinion requiring a corporate party’s witness to disclose communications with his Latham & Watkins lawyers, because he confirmed with that firm his own “commercial understanding” about...more
The US Supreme Court ruled that an insurer with financial responsibility for bankruptcy claims is a “party in interest” under Bankruptcy Code §1109(b) that “may raise and may appear and be heard on any issue” in a Chapter 11...more
Companies faced with numerous mass tort claims, such as asbestos claims, often seek bankruptcy protection. Reorganization plans may include § 524(g) channeling injunctions in which insurance assets are put into a trust to pay...more
The Supreme Court reversed the Fourth Circuit Court of Appeals in favor of insurance companies in a unanimous decision written by Justice Sotomayor. In short, the United States Supreme Court held today that insurers facing...more