Replies to post #208 on Civil Discourse

[12yearplan]

Yup, and reverse this bullchit!:

..the release would protect the company’s family owners from future civil lawsuits, even though they were not debtors in the bankruptcy proceeding.


These concessions to so-called non-debtor third parties originated in the 1990s, when Congress passed legislation shielding insurers in the bankruptcy cases of industrial companies facing asbestos liability.

But judges later began granting third-party releases more freely, in particular to private equity firms accused by creditors of stripping the assets of portfolio companies that had landed in bankruptcy court.
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