American Bankruptcy Institute: Winter Leadership Conference
December 13, 2024
O’Melveny partner Tancred Schiavoni will be a guest speaker at ABI’s Winter Leadership Conference in December discussing the plan confirmation process for insurance carriers and debtors and their competing needs in light of recent Supreme Court rulings. Tancred Schiavoni represents insurance and reinsurance companies in a variety of disputes, including bad faith claims and environmental coverage litigation. Tanc has represented carriers in cases in a number of states, including New Jersey, New York, and New Hampshire. He has also conducted and assisted in mediations and provided coverage advice to clients to assist them in avoiding disputes without the need for litigation. Tanc participated at trial in the defense of a major environmental coverage action involving multiple parties and claims for coverage exceeding US$500 million. Tanc also was involved in the trial of another major multiparty coverage dispute involving coverage claims in a dozen states and Canada.
“Insurance carriers are now permitted to participate in the plan-confirmation process, even when a plan is “insurance neutral.” How do recent Supreme Court rulings change the confirmation process, or will the Bankruptcy Code permit debtors to alter the rights of insurance carriers over their objection of insurance and bind them to the terms of the plan? Finally, there are no circuit splits, no nonconsensual third-party releases under a plan — or is the issue still unsettled when the plan “pays claims in full,” and what does it mean to “consent” to a release? Opt-in, opt-out, negative notice: What works? This panel will provide an overview of the US Supreme Court’s decisions in Truck Insurance Exchange v. Kaiser Gypsum Co. Inc., et al. and Harrington v. Purdue Pharma L.P., et al. and how they impact a debtor’s ability to confirm a plan. The panelists will discuss how debtors and insurance carriers will need to work to address their competing needs. The panelists also will discuss how debtors will address mass-tort bankruptcies without the third-party-release tool or workarounds and will look to the case law and confirmed plans in circuits where nonconsensual releases are not permitted.”
American Bankruptcy Institute: Winter Leadership Conference
December 12 - 14, 2024
Scottsdale, Arizona
The Supreme Court Has Ruled, Twice!
Friday, December 13
8:00 am – 9:15 am
Learn more and register here.