Securing Uncontested Confirmation in a Mass Tort Bankruptcy and Maximizing Assets for Post-Bankruptcy Trust

Gilbert LLP was retained by the Official Committee of Unsecured Creditors in the Mosaic Companies, LLC bankruptcy to analyze the insurance assets potentially available to the Debtors for liability associated with certain stone countertop tort claims, to assist in recovery of insurance assets, and to structure the Plan of Reorganization and related documents to preserve […]

Swift Resolution of Insurer Objections to Secure Exit Financing

Our debtor client faced three separate liability streams, over one dozen insurer objections, and significant time pressure to reach confirmation in order to maintain favorable financing.  Our lawyers negotiated resolution with every insurer-objector within three weeks, garnered support of all tort claimant representatives and facilitated our client emerging successfully from bankruptcy.

U.S. And U.K. Insolvency Proceedings

We represented a U.S. policyholder that had a U.K. subsidiary with significant tort liability in both the U.S. and the U.K.  This entity, which had purchased a policy with an aggregate limit of nearly a billion dollars covering both itself and its U.S. subsidiaries, sought protection of both U.S. and U.K. insolvency laws and cases […]

Successful Mass Tort Bankruptcy and Coverage Case

We represented an asbestos trust in litigation in state court against two insurers that had refused to settle during the bankruptcy proceedings that led to the formation of the trust.  Issues included whether the trust’s predecessor could assign insurance rights to the trust and the reasonableness of the settlement that resulted in the creation of […]

Groundbreaking “Pass Through” Settlement

After securing more than $100 million for a mass-tort-claimants’ committee, we negotiated a first-of-its-kind settlement that permitted the resulting trust to retain its disputed claim against a recalcitrant insurer, without delaying confirmation.

Resolution of International Medical Implant Claims in Bankruptcy Case

We led settlement negotiations that resolved class action cases asserting thousands of medical implant claims against a U.S. company in bankruptcy.  These settlements, which were incorporated into the overall reorganization plan, resolved the vast majority of the international claims in the U.S. reorganization case.

Resolution and Funding of Dental Malpractice and Fraud Claims

On behalf of a bankruptcy committee representing thousands of children injured by dental malpractice, we developed a unique trust structure that permitted claims to be valued in the tort system, but also maintained the trust’s ability to maximize insurer funding and streamline the administration of claims after values had been established.

Represented Tort Creditors’ Committee in Major Automotive Bankruptcy

We represented the tort creditors’ committee in an automotive manufacturing bankruptcy, advising and negotiating with the U.S.-based debtors and their international parent to obtain the full value of international insurance.

Prepackaged Bankruptcy with Over $500 Million in Insurance Assets

In connection with our representation of a small installation contractor, we recommended, developed, and oversaw a prepackaged bankruptcy strategy, as well as pursuit of non-products coverage after most products coverage was exhausted.  Our strategy resulted in insurance recovery in excess of $500 million and approval of a favorable Chapter 11 plan of reorganization.

Corporate Restructuring and Insurance Funding to Guarantee Company Survival

We represented a small, closely-held insulation and roofing contracting company that was facing bankruptcy as a result of its asbestos-related liabilities.  In helping to ensure the company’s continued survival, we undertook a multi-faceted approach whereby we (a) obtained millions of dollars in insurance proceeds to pay asbestos-related claims from solvent and insolvent insurers, and (b) provided […]

Hundreds of Millions in Coverage to Secure Exit Financing

We represented a debtor in a mass-tort-related bankruptcy case that faced significant time pressure to reach confirmation to comply with its DIP (debtor-in-possession) lender’s requirement to maintain favorable financing.  Within three weeks, our lawyers negotiated a resolution of every insurer objection related to three separate liability streams on terms satisfactory to the debtor and consented […]

Settlement of Post-Bankruptcy Insurance Claims

We represented an asbestos trust in litigation in state court against two insurers that had refused to settle during the bankruptcy proceedings that led to the formation of the trust.  Following years of vigorous litigation, both insurers settled on terms favorable to our clients.

Prepackaged Bankruptcy with No Insurer Objections

We represented an ad hoc committee of asbestos plaintiffs to negotiate hundreds of millions of dollars of insurance settlements and a pre-negotiated plan of reorganization that incorporated those settlements.  This allowed the debtor to confirm a bankruptcy plan without insurer objections and our clients to access a trust with hundreds of millions of dollars available […]

Pioneered Asbestos Prepackaged Bankruptcy Cases

We designed, negotiated, and implemented a prepackaged plan of reorganization under which the client contributed its insurance rights and proceeds to a trust to pay asbestos claims and the client’s asbestos-related bodily injury liabilities were discharged.  We settled more than a quarter of a billion dollars of insurance coverage to fund the trust, and subsequently […]