Proposed Asbestos Reform Legislation Would Radically Transform Bankruptcy Process for Affected Debtors and Their Liability Insurers: An Analysis

photo-1About the Author
Theodore A. Howard counsels and represents national and international insurers in a broad range of insurance coverage disputes and related matters, and has significant experience in asbestos-related coverage disputes.

Sen. Arlen Specter (R-Pa.), the new chair of the Senate Judiciary Committee, began the current legislative term with a vigorous effort to rally consensus among the major interest groups-manufacturer-defendants, the insurance industry, organized labor and plaintiffs' "trial lawyers"-in favor of the enactment of meaningful asbestos litigation reform legislation. A key mark-up meeting of the Judiciary Committee was scheduled for March …