Asbestos-Related Restructuring Strategies
Our Business Restructuring team has extensive experience in developing unique strategies for companies facing the challenges that arise from being an asbestos defendant in the tort system. Facing asbestos claims could negatively impact the value of an otherwise profitable operating business, and company directors and officers often expend valuable time and resources managing asbestos defense rather than focusing their attention on the company’s operating business.
In addition to more traditional solutions, such as chapter 11 restructurings and the implementation of permanent channeling injunctions, our restructuring attorneys have worked with numerous clients on out-of-court restructurings that can address and resolve these challenges and problems.
We advise companies on different ways an operating business can be separated from its asbestos liabilities. We also work with third-party purchasers experienced in acquiring and managing asbestos, environmental and other legacy corporate liabilities. For many companies, available insurance coverage provides most of the funding necessary for these types of restructuring transactions.
While every business has different challenges and needs, our extensive asbestos-related restructuring experience enables us to develop a strategy tailored to each client’s unique situation.