Shareholder Helen Franzese explores the significance of the U.S. Supreme Court’s decision in Purdue Pharma to the insurance industry in an article published in CIR Magazine.
In her article “Chasing Finality in U.S. Bankruptcy,” Helen examines how the Purdue Pharma ruling limits the use of third-party releases in Chapter 11 proceedings. The impact of this decision further complicates the ability of an insurer to obtain a policy buyback in the context of mass tort claims where the assured is involved in bankruptcy.
Despite the outcome, the decision may not be a blanket rejection of these releases, and insurers should instead research alternative ways to preserve the benefits and protections of policy buybacks.
To read the full article, click here.
Helen Franzese represents London and U.S. insurers and reinsurers in both the Live and Legacy Market. She has earned an outstanding reputation for effectively handling complex insurance matters across the U.S., having successfully defended her insurer clients in a number of multi-million-dollar disputes in both Federal and State Courts. Helen has significant experience in counseling insurers through the coverage complexities of assured liquidations and bankruptcies and helping legacy insurer clients bring finality to long-tail insurance business.