Playing asbestos hardball; take it or leave it, company tells plaintiffs
Article Abstract:
Glenn W. Bailey, CEO of Keene Corp, is an anomaly among asbestos defendants because he wants to fight rather than to settle. The basis of his company's strategy is the Asbestos Compensation Program, whereby Keene has decided it will limit its further spending on asbestos litigation to $190 million. The company's procedure with further cases will consist of three steps. First, Keene will try to get non-meritorious claims dismissed, second, the company will demand that plaintiffs agree to their settlement offers and third, Keene will try to limit defense costs to 50% of the average amount.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1992
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Billions for asbestos bar? Keene Corp. says four firms earned $3.3 billion, but plaintiffs' lawyers scoff
Article Abstract:
Plaintiffs' lawyers scoff at a charge by Keene Corp Chairman Glenn Bailey that lawyers have made $3.3 billion in fees on asbestos litigation. Bailey stated in an interview that 90% of this amount has gone to four firms since 1985: Philadelphia's Greitzer and Locks, Charleston, SC's Ness, Motley, Loadholt, Richardson and Poole; Dallas's Baron and Budd, and New York's Levy, Phillips and Konigsberg. Bailey says Keene's Chapter 11 strategy is to sue 27 law firms for $55 million in fees they have allegedly wrongfully received.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1995
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Tobacco foes dealt blow; federal class action decertified, but plaintiffs vow to fight at the state level
Article Abstract:
Followying the 5th US Circuit Court of Appeals' denial of class-action certification, plaintiffs' lawyers in the Castano v American Tobacco case plan to file in each state. The unanimous 5th Circuit panel criticized late US District Court Judge Okla Jones II and cited variations in state laws and the unprecedented injury-as-addiction theory in its decision, stating those issues should be resolved in individual trials. Lawyers for tobacco companies claimed a solid victory.
Publication Name: The National Law Journal
Subject: Law
ISSN: 0162-7325
Year: 1996
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