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  • LATEST POSTS

    • Sorta. There was an agreement reached in February and March that lifted the stay ONLY TO THE EXTENT that people could file suit. It was especially key in those instances where the statute of limitations window was about to close (such as NY, NC, and NJ). Once you file your lawsuit, the state court immediately stays the proceeding pending whatever happens at the end of the bankruptcy.
    • They haven't. The point is that it is not 100% certain how much liability Hartford would face. There were thousands of claims involving Hartford covered entities in states that may or may not have had SoLs facing claims that may or may not have been provable in a court of law decades later, etc. Plus, some of these Hartford policies had liability caps: the policy would max out at say $XX million for all claims in 1972 (I'm just picking numbers as an example here) an after that BSA was on the hook for the rest. Etc. One of the documents (I forget which) did list every single insurance policy going back to the 1930s
    • I think neither is completely the case. The SoLs are not the impenetrable wall(s) they once were or appeared to be and, for that reason and others, not to file may be completely unwise. If an attorney counsels their client against filing, depending on the state and the fact pattern, that could be unethical. Remember, highly experienced state CSA attorneys graded the "closed" states by Gray 1-3. That means something. 
    • As near as I can tell, BSA has blocked disclosure of Hartford's policies and the amount of liability Hartford may face.  If I am incorrect, someone please educate me.  But, if that is true, it boggles the mind that the BSA and Hartford would seek approval of a settlement at $650 million without the benefit of knowing what is being given up. The answer may be buried in all the pleadings.
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