Travelers Indemnity v. Bailey simplified

( – promoted by Rob “EaBo Clipper” Eno)

From Mr. Francis C. Boudrow of the International Association of Heat & Frost Insulators and Asbestos Workers Local #6, Patrick appointee, Democrat, we have this:

The truth is that Elizabeth Warren represented Travelers at a time when the company was on the same side as a vast majority of asbestos victims. Elizabeth fought for a principle that most asbestos victims agree with strongly: that settlement trusts are an important part of the law and should be continued to be used. To say otherwise is either ignorant of the facts or a cynical lie designed to trick people to vote for you.”

Get that?  He believes that she represented Travelers when it was on the side of the people Travelers was paying money to.  Full stop right there, right?  But, because that’s not enough for Mr. Boudrow, here’s Travelers simplified:

There was a bankruptcy settlement for $2.8B MONEY TO VICTIMS.

For future claims, Bankruptcy court said NO MORE MONEY TO VICTIMS other than $2.8B settlement from Travelers.

Travelers was sued for MORE MONEY TO VICTIMS, seeking payments for future claims.

2nd Circuit said that Bankruptcy court cannot limit payments which meant MORE MONEY TO VICTIMS.

In Supreme Court, Prof Warren said:

“I believe that when the founders included bankruptcy in the Constitution that they envisioned a bankruptcy system that is flexible and that has the kind of broad reach that was used in this case.”

Had her argument won, it would have meant LESS MONEY FOR THE VICTIMS.

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