Dow Corning may pool unresolved breast implant cases under Chapter 11 filing.
This article was originally published in The Gray Sheet
Executive Summary
DOW CORNING MAY SEEK TO CONSOLIDATE "OPT-OUT" LIABILITY CLAIMS from silicone breast implant recipients as part of a Chapter 11 bankruptcy filing, the company says. Dow Corning reports that if it files for bankruptcy under Chapter 11, all pending claims against the firm filed by women who are not in the $4.25 bil. "global" class action settlement could be consolidated into a separate class action to be resolved by the bankruptcy court, thereby reducing the company's potential liability from the claims. However, Dow Corning would still maintain its $2 bil. commitment to the global settlement.