Motor Vehicle Cas. Co. v. Thorpe Insulation Co. (In re Thorpe Insulation Co.)
Apr
03
2012
Ruling
Confirmation revoked as plan of debtor facing asbestos liability was not insurance neutral and non-settling insurers had a right to participate in approval process.
Procedural posture
The District Court for the Central District of California affirmed a bankruptcy court's confirmation of a chapter 11 plan of reorganization under 11 U.S.C.S. § 524(g), a special provision for the reorganization of companies facing substantial asbestos-related liability. Appellants insurance companies did not reach settlements with debtor insulation companies and had been denied standing to challenge the reorganization plan.
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Court
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Judge or Jurisdiction information not available