This is the assignment, but I have no idea how I'm supposed to answer this ...
The Johns-Manville Corporation was a profitable company that made a variety of building and other products. It was a major producer of asbestos, which was used for insulation in buildings and for a variety of other uses. It has been medically proven that excessive exposure to asbestos causes asbestosis, a fatal lung disease. Thousands of employees of the company and consumers who were exposed to asbestos and contracted this fatal disease sued the company for damages. In 1983, the lawsuits were being filed at a rate of more than 400 per week.
As a response, the company filed for reorganization bankruptcy. It argued that if it did not, an otherwise viable company that provided thousands of jobs an served a useful purpose in this country would be distroyed, and that without the declaration of bankruptcy, a few of the plaintiffs who first filed their lawsuits would win awards of hundreds of ..read below.
2007-02-08
10:22:17
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