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O’Melveny’s Svirsky Quoted on Thorpe Insulation Settlement Case in Turnarounds & Workouts

April 13, 2012

O’Melveny & Myers LLP Gary Svirsky, a partner and a member of the Firm’s Class Actions, Mass Torts, and Insurance Litigation Practice, was quoted in the article “Insurers Win! Landmark Ruling in Thorpe Insulation Settlement Case,” in the April 2012 issue of Turnarounds & Workouts. Svirsky, who represented the insurers in the case, is quoted throughout the piece discussing the details of the case and the implications of the court’s landmark decision in the asbestos bankruptcy context. Svirsky thinks that allowing a plan of reorganization to be immune from appeal simply because some of the interested parties have agreed to it is the problem. “It upends the entire American legal system,” he said. “There’s no room for appellate review under Thorpe’s theory. Judicial decisions should be subject to appellate review, and corrected if wrong.”