Per a W$J editorial, judges have dealt defeats recently to the asbestos plaintiff's bar in two bankruptcy cases. In the W.R. Grace case, a judge ruled -- contrary to scare stories that have been in circulation for a while -- that vermiculite attic insulation that contains some asbestos does not in itself pose an unreasonable risk of injury to homeowners or others. And in the Congoleum case, a judge refused to approve a reorganization plan that protected the interests of management and asbestos lawyers at the expense of insurers. For more on asbestos bankruptcies, see, e.g., here, here and (Congoleum:) here.
Asbestos bankruptcies, cont'd
Center for Legal Policy at the