Private Equity Wants To Buy Your Asbestos Liabilities

Law360 (October 31, 2019, 3:43 PM EDT) -- Nothing commands more interest from our asbestos and other mass tort clients than potential extrajudicial approaches that provide certainty and finality for addressing their long-tail legacy liabilities. There are several alternative risk transfer opportunities that can provide relief from the distraction and risk that saps corporate focus and financial resources.

Typically, there are three ways for a legacy liability defendant to secure finality and certainty: (1) prepackaged or prearranged bankruptcy; (2) purchasing insurance or reinsurance for their book of losses; and (3) selling the liability to a third-party. This article addresses the merits and disadvantages of these approaches, focusing especially on...

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