Financial Services Industry
Industry: Email Alert RSS FeedDow liability estimate debated. (Dow Corning liability for breast implants)
National Underwriter Property & Casualty-Risk & Benefits Management, August, 1997 by Sclafane, Susanne
Noting that his comments will either wind tip as "footnotes to history" or will "design a battlefield," a U.S. Bankruptcy Court judge has rejected proposals from Dow Corning and tort claimants intended to fix a value on personal injury claims against the company arising from its manufacture of breast implants.
In his July 29 ruling, Judge Arthur J. Spector of the U.S. Bankruptcy Court for the Eastern District of Michigan, Northern Division, not only denied motions filed by both sides to set estimation procedures, but questioned whether estimation of aggregate tort claims should be the automatic starting point of mass tort bankruptcy cases. In the ruling, he also put his stamp of approval on the concept of common issue causation trials. While motions filed...
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