By the end of 2023, we should have a much better idea about whether companies facing vast mass torts exposure can use the bankruptcy system to sidestep multidistrict litigation in federal court.
In an email statement, earplug MDL lead counsel Bryan Aylstock of Aylstock Witkin Kreis & Overholtz and Christopher Seeger of Seeger Weiss said Aearo's appeal is without merit. “The 7th Circuit should uphold Judge Graham’s thorough decision rejecting non-debtor 3M’s attempt to shield itself through the bankruptcy system,” the statement said.
I should say here that 3M denies there was anything wrong with its earplugs. J&J likewise maintains that its talc products are safe. Both companies have argued that the bankruptcy process is a faster, fairer way than complex federal-court litigation to resolve plaintiffs’ claims. In the decision denying Aearo’s bid to halt litigation against 3M, Graham said 7th Circuit case law reflects a “constrained” view of both options. According to Graham, the 7th Circuit has never adopted reasoning from other federal circuits that the automatic litigation stay can be extended to non-debtors – including corporate parents – if a judgment against them would in effect be a judgment against the bankrupt subsidiary.
Aearo’s petition to the 7th Circuit previewed the central argument it will make in appellate briefing: The 7th Circuit should clarify its interpretation of the relevant bankruptcy statutes to align its precedent with that of other appellate courts that have given bankruptcy courts broad power to block claims that could affect the debtor.
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