Leaving The Tort System Behind Via Corporate Risk Transfer
Law360 (May 27, 2020, 5:15 PM EDT) -- On May 15, cosmetic talc supplier Imerys Talc America Inc. filed a Chapter 11 plan of bankruptcy reorganization seeking to resolve more than 16,000 personal-injury claims alleging mesothelioma and ovarian cancer from exposure to talc. Less than a decade earlier, when French multinational company Imerys SA acquired the company and its affiliates in 2011, Imerys faced only eight talc personal-injury claims.
This dramatic rise in lawsuit volume is not uncommon in the world of asbestos and mass tort litigation — where claims can be quickly aggregated in class actions, multidistrict litigation and bankruptcy — and highlights the uncertainty of claim patterns...
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