Edwin J. Harron ([email protected]) is a partner and Sara Beth A.R. Kohut ([email protected]) is an associate in the bankruptcy and corporate restructuring section at Young Conaway Stargatt & Taylor in Wilmington. The focus of Young Conaway’s bankruptcy and corporate restructuring section includes restructurings and insolvencies that involve mass tort liabilities and advising representatives of future claimants in connection with mass-tort settlement trusts.
The 3rd U.S. Circuit Court of Appeals recently addressed the standing threshold for creditors and other interested parties in bankruptcy proceedings. Splitting 6-4 inIn re Global Industrial Technologies Inc. , the en banc court held that insurers had standing to oppose a plan of reorganization that transferred insurance rights to a trust established for silica personal injury claims because the otherwise insurance-neutral plan increased the insurers’ "quantum of liability."
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