STORY FROM: Asbestos
3rd Circuit Affirms Dismissal of Asbestos Attorney’s Claims Against Settlement Trusts
October 16, 2015
PHILADELPHIA –– The 3rd Circuit has affirmed the dismissal of claims filed by an asbestos attorney against a number of bankruptcy settlement trusts, ruling that only the claimants, not the claimant’s representatives, have standing to assert claims against a trust.
In the Oct. 15 opinion, the U.S. Court of Appeals for the 3rd Circuit additionally ruled that the Distribution Procedures did not establish an implied contractual relationship between the attorney and the settlement trusts.
Michael J. Mandelbrot and the Mandelbrot Law Firm brought the claims against a number of asbestos bankruptcy settlement trusts, contending that their refusal to ...