3rd Circuit Adopts Fiduciary Model For Future Claims Reps In Asbestos Bankruptcies

Mealey's (June 30, 2022, 4:30 PM EDT) -- PHILADELPHIA — Over the objections of insurers, the Third Circuit U.S. Court of Appeals on June 30 upheld the appointment of a representative for future asbestos claimants in the Chapter 11 bankruptcy of talc producer Imerys Talc America Inc., saying the bankruptcy court applied “in substance” the fiduciary standard for selecting such representatives that the panel adopted in its opinion....