Reply #7: Laugh your butt off and then read this! Not so funny is it?

[1776Forever]

This is an article from 2002 but it shows how bankruptcy courts are used to settle class action suites!

.....

Article: Halliburton Follows Denver Producer's Method of Dealing with Asbestos Claims
By Eric Berger, Houston Chronicle Knight Ridder/Tribune Business News

http://www.highbeam.com/doc/1G1-95588091.html

Dec. 19--Halliburton's plan to use the bankruptcy courts to help settle billions of dollars in asbestos claims is an accepted practice used by solvent companies settling such huge class actions.

In this case, Halliburton is trying to refine the process to allow its Kellogg Brown & Root subsidiary to get through the process within 90 days of when it files next spring.

Halliburton will be following in the footsteps of Johns Manville, a Denver-based producer of building materials that, in the face of a staggering number of asbestos claims, filed for bankruptcy in 1982.