MASS TORT LIEN RESOLUTION
Bankruptcy Lien Resolution
Companies facing large mass tort liability have turned to bankruptcy since the 1980s, when cases against asbestos manufacturers were emerging. The idea of creating a litigation trust came out of the asbestos litigation. These trusts provide a way for plaintiffs to seek money owed from the mass tort liability while enabling the company to reorganize and continue operations. In recent years, several companies facing mass tort liability outside of asbestos have also turned to bankruptcy.
With vast experience in the management of large-scale asbestos lien resolution, LitPRO has developed expertise in managing the healthcare lien resolution process as it relates to bankrupt defendants. This situation may require the development of specialized lien resolution programs with bankrupt defendants to manage the potential multiple reporting obligations per claimant for any one particular healthcare lien arising out of multiple payouts over time.