Examples of Claimant Agreement in a sentence
Prior to authorizing an Abuse Claimant to proceed as a Litigation Claimant, the Trustee shall (i) consult with the Diocese and/or any Participating Party against whom such Abuse Claimant’s Claim is asserted and (ii) require the Abuse Claimant to execute a Litigation Claimant Agreement.
The Trustee shall provide a copy of each Litigation Claimant Agreement to the Reorganized Diocese upon execution thereof, and to any other Protected Parties upon request.
The Court has now reviewed those payments and concludes that the payments were reasonable.At the time Congoleum approached Rice and Weitz regarding negotiation of the Claimant Agreement, Congoleum was facing claims from more than 100,000 asbestos personal injury claimants represented by numerous attorneys.
Judge Stroumtsos found that the Claimant Agreement not been made in good faith because Gilbert Heintz & Randolph (“GHR”), a law firm Congoleum retained for advice on filing a pre-packaged bankruptcy, had colluded with Rice and Weitz to create a scheme in which the asbestos claimants represented by Rice and Weitz would be assured a recovery while Congoleum would be able to free itself of asbestos liability.
The excess insurers would be left to bear the cost of the claims settled under the Claimant Agreement.
The United States Trustee relies in part upon the May 18, 2007 decision of Superior Court Judge Nicolas J.Stroumtsos in which Judge Stroumtsos found that Congoleum’s excess insurers had no obligation to pay claims settled by the Claimant Agreement because the agreement was entered into in bad faith, rendering it unreasonable.
Much of Judge Stroumtsos’s Opinion rests on the fact that Congoleum’s excess insurers did not have a meaningful opportunity to participate in negotiation of the Claimant Agreement.
This has demonstrated itsstrength, increased the people's trust and confidence, transformed its own prospects and those of the country, and advanced the cause of socialism.Fighting in both favorable and unfavorablecircumstances.
The parties to the Global Settlement also reached an agreement regarding the Avoidance Actions against the approximately 80,000 asbestos claimants who were parties to the Pre-Petition Settlement Agreements and the Claimant Agreement (the “Litigation Settlement Agreement”).
Payments under the Claimant Agreement would be made out of a trust funded by the Debtors’ insurance proceeds.