Bankruptcy
Sep. 3, 2014
Class recovery in bankruptcy
As formidable of an obstacle as a defendant's bankruptcy is, it does not necessarily doom class claims or recovery. The severity of its impact depends on several factors. By Hanna B. Raanan
Earlier this year, Plaza Healthcare Center and eighteen related entities filed Chapter 11 bankruptcy petitions in the Central District of California. Their primary motivation, according to a news release, was the debtor's inability to continue defending at least seven class action cases and numerous other matters. This filing highlighted a number of concerns related to the impact of bankruptcy filings by defendant(s) in pending class litiga...
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