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Article
Protecting Future Claimants in Mass Tort Bankruptcies
Faculty Scholarship Series
  • Yair Listokin, Yale Law School
  • Kenneth Ayotte, Columbia Business School
Document Type
Article
Comments
Protecting Future Claimants in Mass Tort Bankruptcies, 98 NW. U. L. REV. 1435 (2004)
Abstract
The problem of "future claimants" plagues the resolution of mass tort bankruptcies. Mass tort injuries, such as those caused by asbestos exposure, can entail long and variable lag times between the exposure to a harmful product and the resultant harm. As a result, some claimants may be unaware of their injury at the time of a company's bankruptcy reorganization. Moreover, the total number and magnitude of future claims is subject to great uncertainty. Any resolution of mass tort claims in bankruptcy (or via the legislative creation of a mass tort trust fund) must ensure a "fair distribution" for these ill-defined future claimants-an exceedingly difficult task.
Date of Authorship for this Version
1-1-2004
Citation Information
Yair Listokin and Kenneth Ayotte. "Protecting Future Claimants in Mass Tort Bankruptcies" (2004)
Available at: http://works.bepress.com/kenneth_ayotte/1/