Is insurance just a business or does it serve a greater public good? If it weren’t for insurance, a fire or earthquake could leave you homeless; a visit to the emergency room could wipe out your bank account; a workplace accident could leave you salary-less. But, on the other hand, picture that wily Geico lizard, and insurance seems more like any other business trying to make a buck.
As the adage goes, everything old is new again. Just like old fads coming back into style, bankruptcy issues that first arose decades ago seem to present themselves again and again over the years, albeit with a different set of facts. Such is the case with the bankruptcy of Johns-Manville Corporation and its affiliates. Despite Manville’s emergence from bankruptcy in 1988, questions regarding the protections of the channeling injunction issued under Manville’s chapter 11 plan continue to present themselves today. Much to the relief of one of Manville’s insurers, in a
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